GBP/USD now faces some consolidation in the short term – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted that last Friday that ‘the chance of GBP breaking above 1.2400 is on the high side’. We added, ‘the next resistance at 1.2450 is a significant level and might not be easy to breach’. While our view was not wrong as GBP rose above 1.2400 , we did not anticipate the sharp drop from the high. GBP could continue to decline today but oversold conditions suggest it might not be able to maintain a foothold below 1.2260. Resistance is at 1.2330, a breach of 1.
Next 1-3 weeks: “Last Friday , we held the view that GBP ‘is likely to head higher to 1.2450’. GBP rose to a high of 1.2423 and then dropped sharply from the high. In early Asian trade today, it took out our ‘strong support’ level of 1.2300. The breach of 1.2300 indicates that GBP is not strengthening further. While the immediate pressure is on the downside, we view any decline as part of a 1.2190/1.2380 range. In other words, we do not expect a clear break below 1.2190.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Pairs in Focus This Week \u2013 EUR/USD, GBP/USD, USD/JPYGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of April 2nd, 2022 here.
Leer más »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, Bitcoin, GBP/USDThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week.
Leer más »
GBP/USD Price Analysis: Slides towards 1.2300 on trend line breakGBP/USD begins the week’s trading on a back foot after witnessing three consecutive weekly gains in the last, down 0.25% around 1.2310 by the press ti
Leer más »
GBP/USD attempts to defend 1.2300, market mood remains jittery on upbeat oil pricesThe GBP/USD pair is making efforts in defending its round-level support of 1.2300 in the Asian session. The Cable witnessed a sheer decline in the ear
Leer más »
GBP/USD Price Analysis: Bumpy ride ahead on a break of structure below 1.2300The GBP/USD pair has slipped sharply below the round-level support of 1.2300 in the Asian session. The Cable went through turbulent times as investors
Leer más »
EUR/USD: Decline could extend to 1.0755 – UOBIn the opinion of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, further losses could drag EUR/USD back to the mid-1.0700s in
Leer más »