GBP/USD: More range trading is likely for now – Scotiabank

Sideways range for the GBP/USD pair in place over the past month or so remains intact, economists at Scotiabank report.

Neither technical chart provides any strong insight into directional risks

Sterling has weakened on the day so far but the GBP/USF pair has edged off the earlier low and holding just below the mid-point of the flat 1.2600-1.2825 trading range in place since mid-December. 

More range trading is likely for now. 

Neither the daily nor weekly charts are providing any strong insight into directional risks.