The Pound Sterling (GBP) could continue to rise, but it might not be able to break clearly above last year’s high of 1.3144 today, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.
Bulls are set to test 1.3144
24-HOUR VIEW: “GBP soared yesterday, closing at its highest level since July of last year (1.3090, 0.43%). Impulsive momentum will likely override the severely overbought conditions, but while GBP could continue to rise today, it might not be able to break clearly above last year’s high of 1.3144. On the downside, should GBP breach 1.3030 (minor support is at 1.3060), it would mean that it is not rising further.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.