STERLING CONTINUES TO RANGE TRADE
The British pound continues to trade within its well established short-term range against the greenback, as the US dollar index consolidates from elevated levels. The GBPUSD pair currently trades around the 1.3500 level, as traders look for a clear break of the weekly trading-range between the 1.3540 to 1.3606 levels. Sterling traders may also be cautious as the United Kingdom economy releases a slew of high-impacting macroeconomic data next week.
The GBPUSD pair remains intraday bearish while trading below the 1.3500 level. Key support is found at the 1.3475 and 1.3450 levels.
The GBPUSD pair remains intraday bullish while trading above the 1.3500 level, key resistance is found at the 1.3537 and 1.3568 resistance levels.