Sterling Consolidation Likely to Continue

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The British pound made some modest gains on Tuesday but price action fell sharply intraday.

However, prices are now recovering from the intraday lows of 1.1639.

Overall, GBPUSD remains range bound within 1.2000 and 1.1497.

The Stochastics continues to show a hidden divergence that could keep price within the range.

However, watch for a possible upside breakout above 1.2000 handle.

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