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GBP/USD remains in a tight range with the Relative Strength Index and momentum stabilizing on the four-hour chart, FXStreet’s analyst Yohay Elam reports.

Key quotes

“The cable is trading below the 50 and 200 Simple Moving Averages and above the 100 SMA. All in all, the picture is mixed.”

“Support awaits at 1.22, which provided support late last week followed by 1.2130, which was a cushion in late March.”

“Resistance is at 1.24, which was a high point on Tuesday, followed by the stubborn 1.2490 level.”