GBPUSD: Support at 1.6675/1.6654, resistacne at 1.6754/1.6800

It was a strange day yesterday as after the opening gap higher (you can get gaps on forex after the weekend), as there was then a very tight range. This tight range has continued overnight as though the market is now in wait and see mode. The inflation readings for both UK and US could be the reason and why I do not expect this period of tight trading to continue for too much longer today. The big week downtrend resistance comes in now at $1.6778, with initial price resistance at $1.6754. Also



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