- Analytics
- News and Tools
- Market News
- GBP/USD still seen within the 1.1950/1.2420 range – UOB
GBP/USD still seen within the 1.1950/1.2420 range – UOB
FXStreet reports that while the outlook on Cable remains tilted to the downside, the move is forecasted to be within a broad side-lined theme, noted FX Strategists at UOB Group.
24-hour view: "Our view for GBP to 'dip towards 1.2150' was incorrect as it rebounded sharply from a low of 1.2166 (overnight high of 1.2383). Despite the relatively strong bounce, upward momentum has not improved by much. However, GBP could edge above the overnight high but any advance is viewed as part of a 1.2250/1.2420 range (a sustained rise above 1.2420 is not expected)."
Next 1-3 week: "There is not much to add to the update from Monday (06 Apr, spot at 1.2230). As highlighted, the 'the immediate risk from here is tilted to the downside but any weakness is viewed as part of a broad 1.1950/1.2420 range'. GBP dropped to 1.2166 yesterday (07 Apr) before rebounding quickly. After the strong bounce, GBP could test the top of the expected at 1.2420 but for now, the prospect for a sustained rise above 1.2420 is not high."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
