GBP/USD: Extra range bound in the pipeline – UOB – by pabspiovano GBPUSD Currencies Majors Banks
is seen navigating within the 1.2345-1.2510 range in the short term, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “Our expectations for GBP to consolidate in a range of 1.2400/1.2475 last Friday were incorrect as it dropped to 1.2368 and then rebounded to end the day unchanged at 1.2445. While there is room for GBP to edge upwards, we view any advance as a higher trading range of 1.2405/1.2475. In other words, a sustained drop below 1.
Next 1-3 weeks: “Last Friday , we indicated that the recent downward pressure has faded and we highlighted that GBP ‘is likely to trade sideways between 1.2345 and 1.2510 for the time being’. We continue to hold the same view.”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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