GBPUSD (1.3925): The British pound was seen trading in a range within 1.4000 and 1.3900 levels. The sideways range is expected to trigger a breakout in the near term with the UK’s preliminary GDP data on the tap today. To the upside, a breakout above 1.4000 could signal a potential correction back to 1.4162 level. To the downside, a breakdown below 1.3900 could mark a correction towards the 1.3800 round number support. The Stochastics is currently pointing to a bullish divergence that is being formed, which could signal a correction to the upside.
