GBP/USD sticks to the consolidative range – UOB – by pabspiovano GBPUSD Currencies Majors Banks
is likely to maintain the ongoing consolidation within 1.1970-1.2150 range in the next weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “We highlighted yesterday that ‘the sharp pullback has scope to extend but any decline is viewed as part of a lower trading range of 1.1970/1.2090’. We added, ‘a sustained drop below 1.1970 is unlikely’. GBP subsequently traded between 1.1965 and 1.2088 before closing little changed at 1.2025 .
Next 1-3 weeks: “Our update from two days ago is still valid. As highlighted, GBP is likely to consolidate and trade in a broad range of 1.1970 and 1.2150 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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