The Pound Sterling (GBP) is likely to trade in a range, probably between 1.2810 and 1.2890.
The Pound Sterling is likely to trade in a range, probably between 1.2810 and 1.2890. Downward momentum is building, and GBP may also trade with a downward bias towards 1.2780, UOB Group FX strategists Quek Ser Leang and Peter Chia note. The closest resistance is at 1.2890 24-HOUR VIEW: “Yesterday, we expected GBP to consolidate in a range of 1.2850/1.2895. However, GBP fell below the support at 1.2850, reaching a low of 1.2807. GBP then rebounded from the low, closing largely unchanged .
Today, GBP is likely to trade in a range, probably between 1.2810 and 1.2890.” 1-3 WEEKS VIEW: “We indicated last Friday that ‘downward momentum is building, but at this time, it is premature to expect a significant decline.’ We added, ‘Overall, provided that the ‘strong resistance’ is not breached, GBP is expected to trade with a downward bias towards 1.2780.’ Yesterday, GBP fell to a low of 1.2807 before rebounding.
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 Price Analysis: Ascends on weak US Dollar, bulls eye daily close above 1.2800The GBP/USD registered decent gains of more than 0.20% on Friday after June’s US jobs data showed the economy added more jobs than expected, though a revision lower of April and May’s figures hinted the labor market weakened further.
Read more »
GBP/USD Price Analysis: Bulls turn cautious amid overbought RSI, downside potential seems limitedThe GBP/USD pair trades with a mild negative bias during the Asian session on Thursday, albeit lacks follow-through selling and remains well within the striking distance of the one-year peak touched the previous day.
Read more »
GBP/USD lacks firm near-term direction, remains confined in a range around mid-1.2600sThe GBP/USD pair extends its sideways consolidative price move during the Asian session on Tuesday and remains confined in a familiar range held over the past two weeks or so.
Read more »
GBP/USD Price Analysis: Stuck in range, clings to 1.2900The Pound Sterling clings to minimal gains, though it remains stuck within the 1.2880-1.2940 range against the Greenback, unable to crack immediate resistance to push the GBP/USD pair toward the 1.3000 mark.
Read more »
GBP/USD: To trade with a downward bias towards 1.2780Increase in momentum suggests further Pound Sterling (GBP) weakness; the major support at 1.2780 is unlikely to come into view for now, UOB Group FX analysts Quek Ser Leang and Peter Chia note.
Read more »
Retail Trader Sentiment Update: GBP/USD, AUD/USD, USD/JPY LatestForex sentiment analysis: Dive into the latest data on GBP/USD, AUD/USD, and USD/JPY. How are retail traders positioned in these major pairs?
Read more »