GBP/USD: Extra advance needs to clear 1.2270 – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted last Friday that ‘upward momentum has improved a tad but while GBP is likely to trade with an upward bias, it is unlikely to break 1.2270’. GBP subsequently rose to 1.2250, dropped to 1.2153 before rebounding to close at 1.2234 . Despite the choppy price actions, the underlying tone appears to be firm and GBP is likely to edge higher. However, a clear break of 1.2270 still appears unlikely. Support is at 1.2200, followed by 1.2170.
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