GBP/USD: Sterling consolidated within narrow ranges, as investors remained cautious after British lawmakers defeated an attempt led by the opposition Labour Party to try to block a no-deal Brexit. The major traded flat at 1.2691, having hit a high of 1.2763 on Friday; it’s highest since May 21.

Investors’ attention will remain on the U.S. fundamental drivers, amid a lack of data from the UK docket. Immediate resistance is located at 1.2763 (June 7 High), a break above could take it near 1.2798 (May 17 High). On the downside, support is seen at 1.2647 (May 24 Low), a break below targets 1.2580 (May 30 Low). Against the euro, the pound was trading 0.1 percent down at 89.03 pence, having hit a low of 89.32 on Tuesday, it’s lowest since Jan. 15.

 

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