GBPUSD now faces some consolidation near term – UOB – by pabspiovano GBPUSD Currencies Majors Banks
could now attempt some consolidation in the short term, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We highlighted yesterday that GBP ‘is unlikely to strengthen further’ and we expected it to ‘trade sideways between 1.1800 and 1.1950’. GBP subsequently traded within a narrower range than expected . The underlying tone has firmed somewhat and GBP could edge higher today. However, any advance is likely limited to a test of 1.1970.
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