The British Pound stalled at familiar range resistance below the 1.57 figure against the US Dollar once again. Near-term support is at 1.55485, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.54615. Alternatively, a push above the 1.57000 opens the door for a challenge of the 1.57900 area.
The available trading range is too narrow to justify entering a trade but it's one to watch in the coming days.
The available trading range is too narrow to justify entering a trade but it's one to watch in the coming days.