GBP/USD clings to 1.3200

GBP/USD continues to consolidate in a narrow range near 3-week highs in the absence of first-tier data releases, while investors await US inflation data and Fed’s Yellen speech, both taking place on Friday.

GBP/USD peaked at 1.3209 but failed to hold above the 1.3200 mark, and it has spent the last hours moving laterally just below, unable to set near-term-direction. At time of writing, the pair is trading at 1.3190, still up 0.42% on the day.

GBP/USD technical levels

As for technical levels, immediate resistances could be found at 1.3209 (Aug 23 high), 1.3271 (Aug 1 high) and 1.3300 (psychological level).  On the flip side, supports are seen at 1.3104 (21-day SMA), 1.3039 (10-day SMA), 1.2978 (Aug 17 low) and 1.2900 (psychological level).