GBPUSD Hourly Price Action, Sept 24 08

The GBPUSD is currently trading within a tight range between the extremes of 1.8640 and 1.8469. Price continues to bounce back and forth from support to resistance while traders digest the testimony from Bernanke and Paulson on the credit market/ Wall Street bailout.

As you can see the stochastic is turning upward from an oversold position after the latest bounce off support.