The British pound has again recovered losses against the U.S dollar, with buyers moving price-action back towards the 1.3400 level. The pound started to recover upside momentum yesterday, as the sell-off due to another British political scandal proved short-lived. The GBPUSD pair remains range-bound between 1.3330 and 1.3418, with both sellers and buyers battling to take control of the pairs medium-term direction. Traders now await key economic data from the United Kingdom today, with third fiscal quarter GDP figures due in the upcoming European trading session.
The GBPUSD pair will remain intraday bullish while trading above the 1.3361 level. Intraday upside targets for buyers remain 1.3418 and 1.3450.
Should price-action on the GBPUSD pair move below the 1.3361 level, sellers are likely to target towards the 1.3330 and 1.3300 levels.
