The Pound Sterling (GBP) is registering a very marginal gain on the USD on the session but it is trading flat effectively Scotiabank’s Chief FX Strategist Shaun Osborne notes.

GBP holds narrow range

“There were no UK data reports today to shape trading and the pound is marking time in ranges along with its major currency peers.”

“Sterling has stalled in the upper 1.26s, with the pound making hard work of promising gains on the short-term charts. The potential for a bit more strength in the pound remains but, realistically, this is not something that is likely to develop without other currencies making a move against the USD as well. Resistance is 1.2760. Support is 1.2610.”