The British pound sterling is trading quite mixed on Thursday.
In the medium term, price action remains caught within the 1.3000 resistance level and the 1.2750 level of support.
Unless we see a breakout from one of these levels, the consolidation could continue.
The Stochastics oscillator is currently hinting at a move to the downside. But we expect the declines to hold up near the 1.2750 level of support.
The mixed market reaction comes following the GBPUSD posting a three-day winning streak.