GBP/USD: Expected to trade in a 1.3340/1.3420 range – UOB Group
The Pound Sterling (GBP) is expected to trade in a 1.3340/1.3420 range. In the longer run, GBP must break and hold above 1.3455 to resume strength, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
GBP must break and hold above 1.3455 to resume strength
24-HOUR VIEW: “We expected GBP to edge higher last Friday, but we held the view that ‘any advance is unlikely to break above 1.3455.’ GBP subsequently rose, but less than expected, reaching a high of 1.3428. GBP closed lower by 0.32% at 1.3372. Momentum indicators are turning flat, and the current price movements are likely part of a range trading phase. Expected range for today: 1.3340/1.3420.”
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.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.