GBP/USD remains capped by 1.4700

By FXStreet GBP/USD entered a consolidation phase over the last hours and continues to trade just below the 1.47 mark, in the absence of catalysts to trigger moves in the FX space.

GBP/USD peaked at 1.4695 earlier on the day but lacked momentum to overcome the 1.4700 level and was confined to a narrow range. At time of writing, Cable is trading at 1.4679, recording a 0.51% gain on Monday.

GBP/USD levels to watch

In terms of technical levels, next resistances could be found at 1.4695 (May 2 high), 1.4724 (Jan 5 high) and 1.4815 (Jan 4 high). On the flip side, supports are seen at 1.4575 (Apr 29 low), 1.4522 (Apr 28 low) and 1.4494 (Apr 27 low).
For more information, read our latest forex news. …read more

Source:: FX Street