GBPUSD (1.3562): GBPUSD continues to trade flat with price action consolidating near 1.3530 level. The rather prolonged sideways movement is likely to trigger a volatile breakout in the near term. The support level at 1.3530 could hold the declines in the near term, with the downside breakout pushing prices closer to the 1.3500 level of support. To the upside, there is a strong possibility of a correction in prices with the intial target coming in around 1.3737 followed by the horizontal resistance level of 1.3902.
