- Analytics
- News and Tools
- Market News
- GBP/USD faces a probable move to 1.3715 – UOB
GBP/USD faces a probable move to 1.3715 – UOB
Cable’s upside could reach 1.3715 ahead of 1.3750 in the next weeks, suggested FX Strategists at UOB Group.
Key Quotes
24-hour view: “Our expectations for GBP to ‘weaken’ yesterday were wrong as it traded in a choppy manner before closing on a firm note at 1.3664 (+0.55%). While upward momentum has not improved by all that much, there is room for GBP to advance to 1.3695, possibly 1.3715. Any advance in GBP is unlikely to challenge the major resistance at 1.3750. Support is at 1.3640 followed by 1.3615.”
Next 1-3 weeks: “We have expected GBP to trade within a 1.3500/1.3680 range since early this week (see annotations in the chart below).GBP rose strongly yesterday and the advance has gathered momentum. From here, GBP is likely to head higher to 1.3715. A break of 1.3715 would shift the focus to 1.3750. Only a break of the ‘strong support’ (currently at 1.3595) would indicate that GBP is not ready to head higher.”
© 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
