Forex Trading: US dollar gets weaker. GBPUSD approaches resistance.

The GBPUSD is approaching the high from Friday at 1.9957. However, directly above the level looms the 200 day moving average at 1.9967. This level will need to be broken on a closing basis to get the medium to longer term buyers involved.  The market will be watching this level closely in the near term.  Expect sellers against the level, but the potential exists for stops above it. 

NOTE, however, that the pair must close above it to confirm the move.