GBP USD Trading in a slim range 2
12/13/2016 8:46:44 AM
The GBP is posting peripheral losses on Tuesday, holding GBP/USD in a narrow range in sub-1.2710 levels ahead of UK’s inflation figures.
In spite of the up to now small pullback, the pair is looking to merge in the upper end of the recent range following the strong advance at the beginning of the week.
The dollar, meanwhile, is showing some signs of flexibility as attentiveness is anticipated to slowly take over sentiment in light of the FOMC meeting due tomorrow.
According to writing the pair is losing 0.06% at 1.2677 and a break below 1.2550 would subject 1.2460 and then 1.2300. On the other hand, the next obstacle line up at 1.2710 followed by 1.2765 and ultimately 1.2775.
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Written by FxErvin