GBP/USD remains confined in a range as no-deal Brexit concerns gain little attention

• GBP/USD trades show little attention to no-deal Brexit scenario amid lack of major data, UK’s parliament recess.
• Trade/political news will be in the spotlight as economic calendar remains short.

GBP/USD keeps following a short-term symmetrical triangle as a lack of economic indicators and summer recess in the UK’s parliament restrict cable moves despite increasing odds for no-deal Brexit. The quote currently trades around 1.2166 during early Wednesday.

While the Chancellor of the Duchy of Lancaster, Michael Gove, who is in charge of no-deal preparations, recently said that the EU turned down the scope of renegotiating the Brexit deal, Ireland's Prime Minister Leo Varadkar urged the UK and the EU to hold Brexit talks while speaking at a debate in Belfast.

Further, The Telegraph conveyed the news that the supporter of the UK to remain in the EU are plotting to drag the British Queen to sack Boris Johnson if he defies no-confidence vote during early September.

Even so, the Cable remains modestly unchanged while forming a symmetrical triangle on the hourly chart between 1.2205 and 1.2122/20 as lack of economic data from the UK and the US bores traders.

Investors might now look forward to the UK’s July month Halifax House Prices, coupled with observing trade/political news, for fresh clues.

Technical Analysis

Unless breaking short-term symmetrical triangle between 1.2205 and 1.2122/20, prices are less likely to offer many moves.