GBP/USD Offers Range Trading Opportunities Between Key Levels

• GBP/USD Technical Strategy: Sidelines Preferred
• Narrow range between 1.7100 and 1.1710 remains in play
• Dojis denote deliberation as consolidation continues

GBP/USD continues to keep traders in suspense as the pair wavers within a narrow 70 pip range between 1.7100 and 1.7170. A lack of definitive bearish reversal candlestick signals casts doubt on a correction below support.

GBP/USD: Range Remains In Force As Doji Signal Trader Indecision

Drilling down to the four hour chart; several Dojis near 1.7170 suggest hesitation from traders near the key technical level. A test of the range-bottom at 1.7100 may afford new long entries as the recent range remains intact.

GBP/USD: Doji Denotes Hesitation Near Key Resistance