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Quick Answer. In a psychological context, labile mood refers to a mood state in which a person experiences wild, uncontrolled mood swings. Labile mood is also known as labile affect, emotional dysregulation and pseudobulbar affect.
However, in terms of bipolar disorder, such words as pleasant and joyful are not an essential part of the definition. A euthymic mood may be pleasant but it does not have to be. In clinical terms, a euthymic mood is one that rates low on scales of both manic/hypomanic and depressive symptoms.