Pound Sterling Stuck in Range as UK Recession Fears Linger
GBP/USD remains range-bound after Monday’s sharp candle reclaimed key moving averages but stalled near 1.3500. Subsequent sessions have traded within that range.
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Monday’s session produced a single large candle that reclaimed the moving-average band, which had capped every rally since mid-July. The move stalled just short of the 1.3500 handle.
Since then, price action has consolidated entirely within that range, signaling a lack of directional momentum. The pair remains trapped as concerns over a potential UK recession keep buyers cautious.
Source: FXStreet Forex News