GBP/USD faces further consolidation near term – UOB – by pabspiovano GBPUSD Currencies Majors Banks
is now expected to navigate within the 1.2330-1.2520 range in the next few weeks.24-hour view: “Our view for GBP to trade in a 1.2395/1.2470 range yesterday was incorrect as it dropped sharply to 1.2346 before rebounding. The rebound in oversold conditions suggests GBP is unlikely to weaken further. Today, GBP is more likely to consolidate, expected to be between 1.2355 and 1.2450.”
Next 1-3 weeks: “We continue to hold the same view as yesterday . As highlighted, GBP is likely to consolidate between 1.2330 and 1.2520 for the time being.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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