The British pound sterling is trading flat with no new highs forming after trading above the 1.3300 level.
Prices briefly tested Monday highs, just below the 1.3400 level before retreating.
We expect the cable to continue testing the 1.3300 level of support in the near term. As long as this level holds, the bias remains to the upside.
In the event that the GBPUSD gives back these gains, then we suspect some declines that could put the currency pair back into a sideways range.