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The British pound sterling is pushing higher on the day as prices briefly tested the 1.3300 level of resistance.

However, price action will need to push higher beyond this level in order to confirm further gains.

Therefore, if price action loses momentum near 1.3300, then we could expect a move lower.

This would mean that the GBPUSD will be trading flat within the 1.3300 level of resistance and the 1.3122 level of support.

This sideways range is likely to continue for the near term with only Brexit-related news acting as a catalyst for price to breakout from the range.

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