GBP/USD: Upside momentum gathers pace – UOB – by pabspiovano GBPUSD Currencies Majors Banks
target the 1.2450 region in the near term, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “We expected GBP to weaken yesterday but we were of the view that ‘the major support at 1.2250 is unlikely to come under threat’. GBP dropped briefly to 1.2275 in NY trade before rebounding strongly to close at 1.2375 . The advance has room to extend but a sustained rise above 1.2450 appears unlikely. Support is at 1.2360, followed by 1.2330.
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