Sterling creeps back into range

The GBPUSD currency pair is rising back into range after slipping to the downside of 1.2280.

The bias remains mixed for the moment. If GBPUSD enters into the range, then we expect the upside near 1.2485 to hold the gains in the near term.

We expect this sideways range to continue for the short term. A strong breakout from this range will probably set the direction.

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