GBPUSD posts modest gains but remains range bound

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The pound sterling continues to trade within the levels that it has been stuck within.

Price action is currently testing the upper bound of 1.2485. But the weak momentum could signal a price failure to the upside.

Therefore, we expect GBPUSD to continue trading within the sideways range.

There is scope for prices to slip back to the lower end of the range at 1.2277.

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