The British pound Sterling continues to trade rather mixed albeit near the recent highs. The consolidation has formed the ascending wedge pattern which could potentially signal a correction lower upon a bearish breakout.
On Friday, the currency pair managed to pull back from the recent loss only to give back the gains towards the end of the week.
The stochastics oscillator remains trading flat. This suggests the sideways price action in the GBPUSD currency pair.
As long as no new highs are forming, the GBPUSD currency pair is likely to eventually post a correction towards the 1.3500 level.
