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The British pound sterling is back on track to retest the resistance level near the 1.3122 region once again.
This comes as price action has made a gradual lift off from the lower end near the 1.3000 level earlier in the week.
But the 1.3200 level, which is the next level to the upside, could see prices stalling once again. As a result, we could expect GBPUSD to remain in a range for a while.
If price fails to clear the 1.3122 level, we could expect to see a move lower thereafter.
This will likely see a double top pattern forming that will see a move toward the 1.2878 level at the very least.
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