GBPUSD CONSOLIDATES AHEAD OF UK PM SPEECH

The British pound is consolidating against the U.S dollar, ahead of a keynote speech on Brexit from the UK Prime Minister Theresa May. Price-action currently is holding in a tight trading range, with the GBPUSD pair testing around the 1.3780 region, ahead of PM Theresa May's speech on her vision for the UK economy post-Brexit. Volatility is likely to increase in the British pound during and after PM May's speech, technical traders will continue to watch the pivotal 1.3765 level for direction.

• A sustained move above the 1.3765 level may lead to further GBPUSD gains, with buyers targeting the 1.3807 and 1.3858 level.

• A sustained move below the 1.3765 level may lead to further GBPUSD selling, with downside targets found at the 1.3711 and 1.3660 levels.