GBP/USD: SET TO DECLINE FURTHER TO 1.2860 – UOB GROUP
The Pound Sterling (GBP) is expected to trade in a range between 1.2930 and 1.3000. In the longer run, price action suggests GBP could decline further to 1.2860, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
GBP to trade between 1.2930 and 1.3000
24-HOUR VIEW: “Our view for GBP to ‘continue to weaken’ yesterday was incorrect. Instead of weakening, GBP rose to a high of 1.2985. Despite the relatively strong advance, upward momentum has not increased much. Today, we expect GBP to trade in a range, probably between 1.2930 and 1.3000. GBP is unlikely to break clearly below 1.2930 or above 1.3000.”
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.