GBPUSD Rebounds After Filling 11 Dec Gap

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The British pound sterling gapped lower on the open on Monday.

Prices fell steadily to intraday lows of 1.3289 before reversing direction. This also coincides with the 11 Dec gap.

Back then, the GBPUSD gapped higher on optimism due to the Brexit trade talks.

For now,  cable has managed to recover above the 1.3300 level.

A continuation above this level could see further gains coming along.

The next key challenge to the upside will be to fill the Monday gap at 1.3521.

In the medium term, the GBPUSD has now widened its sideways range between 1.2500 and 1.3300.

We expect the volatility in the GBPUSD to continue amid the current uncertain fundamentals that are unfolding.

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