The British pound sterling continues to trade flat albeit, price action is firmly supported above the 1.3300 level.
Following the gap higher at the start of the week, the GBPUSD has been pushing lower. For the moment, there remains an unfilled gap from Monday’s open.
To the upside, price action is trading well below the key upper range of 1.3483. The weakness in the US dollar is currently helping the British pound to push higher.
However, it is unlikely to see any major gains coming in the near term.
We expect the sideways range to be held until there is some kind of a resolution to the ongoing Brexit talks between the EU and the UK.