#GBPUSD @ 1.20445 expected to trade within the 1.1850-1.2080 range – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
GBP/USD is now seen navigating the 1.1850-1.2080 range in the next few weeks, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
24-hour view: “Yesterday, GBP rose to 1.2188 before plummeting to close at 1.1958 (-1.08%). While oversold, the weakness in GBP could extend to 1.1915 before stabilization is likely. Resistance is at 1.2000, but only a breach of 1.2030 would indicate that the weakness has stabilized.”
Next 1-3 weeks: “The recent build-up in upward momentum has faded as GBP dropped sharply by 1.08% yesterday (NY close of 1.1958). GBP appears to have moved into a consolidation phase and is likely to trade within a range of 1.1850/1.2080.”
[/s2If]
Join Our Telegram Group
