- GBP/USD is expected to remain range bound as UK shuns further trade talks
- The key levels: October 12 high at 1.3082 and the 1.2861 lows hit on October 14 and 16.
- A breakout of the range is needed if a trend is to emerge.
GBP/USD LOOKS TO POST-BREXIT TRADE TALKS
GBP/USD trades in a tight range, sideways, which could continue whilst Brexit trade talks remain deadlocked.
On Tuesday, the junior UK business minister Nadhim Zahawi repeated that the UK sees no point in continuing trade talks despite chief EU Brexit negotiator Michel Barnier confirming that the EU could intensify talks in London this week.
GBP/USD resistance seen at the October 12 high at 1.3082 and support is seen at the 1.2861 lows touched on October 14 and 16. A breakout could see the start of a new trend.