GBP/USD clings to the near-term consolidative phase – UOB – by pabspiovano GBPUSD Currencies Majors Banks
should remain side-lined between 1.2330 and 1.2520 for the time being, according to Economist Lee Sue Ann and Market Strategist Quek Ser Leang at UOB Group. 24-hour view: “Yesterday, we noted that ‘the rebound in oversold conditions suggests GBP is unlikely to weaken further’ and we expected GBP to consolidate and trade between 1.2355 and 1.2450. GBP subsequently traded in a narrower range than expected .
Next 1-3 weeks: “We continue to hold the same view as Monday . 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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