Forex: GBP/USD hovering around 1.5300

FXstreet.com (Córdoba) - Even though the British pound managed to move higher versus the greenback on Tuesday, it failed to decisively break above the 1.5330 area and was confined to a range. GBP/USD has spent most of the day between 1.5270/1.5330, unable to define a fresh direction.

At time of writing, GBP/USD is trading around 1.5300/10, still up 0.2% on the day. From a technical perspective, "Immediate short term resistance in located at the 1.5340/60 area, and only steady gains above that level will signal an advance", says Valeria Bednarik, chief analyst at FXstreet.com.