Prices of the GBP/USD became tightly range-bound after yesterday’s big spike towards 1.4665. From a technical perspective, chances are not bad that sterling is facing a new breakout of its narrow trading range after it traded consolidated between 1.46 and 1.4520. With a renewed break above 1.4580 we expect sterling to head for another test of 1.46. Above 1.4610 it may extend its upward move until 1.4660. On the downside, we will shift our focus to the 1.4520-level, considering that a downside break may drive the pound towards 1.4470 and 1.4420. 
U.K. Industrial and Manufacturing Production figures are scheduled for release at 8:30 UTC and could possibly have a short-term impact on the pound.
It's all quiet in the currency pair and euro traders are tired of the euro's listlessness. At the moment, it is not worth trading this pair as large investors refrain from taking any positions on the euro, which leads to a decreased demand. However, despite the "lack of drive" there will be always possible breakout scenarios where it could be worth trading this pair.
After the recent upswing the euro took a breather and is now trading within a narrow range between 1.1375 and 1.1340. Above 1.1380 we see a higher likelihood of an upcoming bullish breakout which may push the euro through the 1.14-barrier. A crucial resistance is seen at 1.1450. Euro bears should better wait for a break below 1.1320 in order to sell the euro towards 1.1250.
Daily Forex Signals:
EUR/USD
Long at 1.1380 SL 25 TP 20, 40
Short at 1.1325 SL 25 TP 25, 40
GBP/USD
Long at 1.4565 SL 25 TP 40, 60
Short at 1.4525 SL 25 TP 20, 55
We wish you good trades and many pips!
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