The GBP/USD pair faded an early European session spike to fresh 32-month tops and has now retreated to the lower end of its daily trading range. The pair was last seen hovering around the 1.3730 region, nearly unchanged for the day.
The pair built on the overnight strong rally of around 135 pips from the vicinity of the 1.3600 mark and gained some follow-through traction through the first half of the trading action on Wednesday. The momentum pushed the GBP/USD pair to the highest level since May 2018, around the 1.3755-60 region, though lacked any strong follow-through buying.