GBP/USD Consolidation Is Still Not Over

The GBP/USD consolidation visible on the daily filter chart has been continuing for weeks now and unfortunately today’s fundamentals did not provoke enough volatility on the market for the range to end. The pair did move to the downside again however, and is currently testing the support at 1.5500, which it has been testing repeatedly for the past few weeks. Obviously we can expect little change before the US Non-farm payrolls tomorrow, but once they come out there is the very real possibility for the consolidation to finally end.