Hello everyone ! Today The GBP/USD pair is facing difficulties in achieving any significant upward momentum on Thursday and is trading within a narrow range below the 1.2100 level today. The price is currently hovering around 1.213 and awaiting fresh catalysts from the Fed Chairman's speech later today to determine a clearer direction moving forward.
If the GBP/USD fails to surpass the 1.2200 level, sellers may remain interested and cause the currency pair to retreat towards the 1.2130 (static level) and 1.2100 (psychological, static level).