• GBP/USD remains range-bound between 1.2686 and 1.2785, with resistance at 50-DMA capping further gains.
• Sellers maintain control; RSI below the 50-neutral line suggests continued sideways movement.
• Below 1.2700, support targets are 1.2686, 1.2659, and 1.2600; above 1.2786, resistance levels include 1.2800 and 1.2861.

The Pound Sterling consolidates around the 1.2758 area on Monday, extending its gains for three straight days. However, it faces strong resistance at the 50-day moving average (DMA) at 1.2784, which quickly rejected the GBP/USD, which trades virtually unchanged, up 0.02%.

GBP/USD Price Forecast: Technical outlook

The GBP/USD is neutral biased, capped by the 50 and 100-DMA, the latter at 1.2686, with traders unable to crack the top-bottom of the 1.2686-1.2785 range, for the fourth straight day.

Momentum shows that sellers are in charge, as depicted by the Relative Strength Index (RSI) being below the 50-neutral line, but its flatlines hint that the GBP/USD could remain sideways.

 If GBP/USD clears the 1.2700 figure, the next support would be the 100-DMA at 1.2686, ahead of the 200-DMA at 1.2659. Once those two levels are taken, the next stop would be the 1.2600 figure, followed by the latest cycle low of 1.2445, the May 9 daily low.