GBPUSD shows no signs of a breakout yet

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The Pound sterling continues to trade flat with prices drifting above the lower support level of the range at 1.2277.

With the minor resistance level at 1.2423 coming in, to the upside, GBPUSD could continue to drift sideways.

For the moment, the minor falling trend line will be key.

A successful upside breakout could confirm near term gains towards the 1.2423 level which could open up for a test back to the upper end of the range at 1.2485.

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