GBP/USD: Further consolidation likely near term – UOB – by pabspiovano GBPUSD Currencies Majors Banks
is now seen within the 1.2800-1.3100 range in the next few weeks according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: We highlighted yesterday that GBP “could rebound further to 1.2950”. We added, “The major resistance at 1.3000 is unlikely to come into view.” In line with our expectations, GBP rebounded further . Upward momentum has improved a tad, and today, GBP could rise to 1.2975 before the risk of a pullback increases.
Next 1-3 weeks: Our update from yesterday is still valid. As highlighted, the recent downward pressure has faded. For now, we expect GBP to trade in a range, probably between 1.2800 and 1.3100.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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