The Pound Sterling (GBP) is expected to continue weaken, potentially to 1.3035.
The Pound Sterling is expected to continue weaken, potentially to 1.3035. The major support at 1.3000 is unlikely to come under threat, UOB Group FX strategists Quek Ser Leang and Peter Chia note. Falling below 1.3035 may target 1.3000 24-HOUR VIEW: “When GBP was at 1.3130 yesterday, we noted that ‘there has been a slight increase in downward momentum.’ We were of the view that GBP could dip below 1.3100 but we indicated that ‘any decline is not expected to reach 1.3060.
The major support at 1.3000 is unlikely to come under threat. To keep the momentum going, GBP must remain below 1.3115 with minor resistance at 1.3090.” 1-3 WEEKS VIEW: “Yesterday , we noted that ‘the recent price action has resulted in a modest increase in downward momentum.’ We highlighted that ‘as long as 1.3250 is not breached, we expect GBP to drift lower, possibly reaching 1.3050.’ We added, ‘the likelihood of GBP breaking clearly below this level seems low for now.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD: Bears to break the support at 1.2710The Pound Sterling (GBP) is expected to drift lower; given the mild downward pressure, any decline is unlikely to break the support at 1.2710, and the chance of GBP dropping below 1.2665 is low, UOB Group FX analysts Quek Ser Leang and Peter Chia note.
Read more »
GBP/USD: Bears are set to test 1.3145The Pound Sterling (GBP) could weaken but does not appear to have enough momentum to break the strong support at 1.3145.
Read more »
Bears vs. Titans: What to know about Bears' Soldier Field home opener, Caleb Williams' debutThe first game of the 2024 NFL season is down, with the Baltimore Ravens falling 27-20 to the Kansas City Chiefs -- but in Chicago, the biggest game of Week 1…
Read more »
Bagent leads Bears to preseason win over Chiefs; Bears' Coleman taken away on a stretcherBagent leads Bears to preseason win over Chiefs
Read more »
Bagent leads Bears to preseason win over Chiefs; Bears' Coleman taken away on a stretcherBagent leads Bears to preseason win over Chiefs
Read more »
Chicago Bears roster cuts: Updates as the Bears move their roster to 53 players TuesdayCheck with us here for updates as the Bears trim their roster to 53 players ahead of the 3 p.m. deadline.
Read more »