Pound stalls at July high and retreats toward 1.3495
Sterling failed to sustain a push above the July peak, pulling back to around 1.3495 after topping just below 1.3550.
GBPUSD
Sterling spent the London morning building a case for a break above the July high, but the move lost momentum through the rest of the session. GBPUSD was trading near 1.3495 after reaching a high just short of 1.3550.
The pullback left the July peak intact as resistance, with buyers unable to hold gains near the session high. The pound gave back a modest portion of its advance, keeping the pair on the defensive into the close.
Source: FXStreet Forex News