- Analytics
- News and Tools
- Market News
- GBP/USD looks ready to re-test 1.3910 - UOB
GBP/USD looks ready to re-test 1.3910 - UOB
FXStreet reports that FX Strategists at UOB Group suggest that Cable could be headed towards the 1.390-mark and above in the next weeks.
24-hour view: Last Friday, we highlighted that ‘solid upward momentum suggests that the current advance in GBP is likely to break 1.3850 and head towards 1.3885’. We added, ‘the major resistance at 1.3910 is likely out of reach’. Our view was not wrong as GBP soared to 1.3891 before pulling back. Deeply overbought conditions indicate that the current GBP strength is ready to take a breather. In other words, GBP is likely to trade sideways for today, expected to be between 1.3825 and 1.3890.”
Next 1-3 weeks: “As highlighted, vastly improved momentum suggests that GBP is ready to head higher to 1.3910. GBP subsequently soared to 1.3891 before easing off. The current positive outlook is deemed intact as long as GBP does not move below 1.3790.”
© 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
