- Analytics
- News and Tools
- Market News
- GBP/USD still faces a mixed outlook – UOB
GBP/USD still faces a mixed outlook – UOB
In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, the outlook for GBP/USD remains mixed for the time being.
Key Quotes
24-hour view: “We highlighted yesterday that ‘the sharp swings have resulted in a mixed outlook and further choppy price actions are not ruled out’ and we expected GBP to ‘trade within a range of 1.2200/1.2310’. Our view for choppy trading was not wrong as GBP plunged to 1.2171, snapped up to 1.2294 before dropping back down to end the day little changed at 1.2262 (-0.03%). The outlook remains mixed and GBP could continue to trade in a choppy manner. Expected range for today, 1.2190/1.2305.”
Next 1-3 weeks: “We have held the same view since Monday (20 Jun, spot 1.2225) where the outlook is mixed and GBP could continue to trade in a choppy manner, likely between 1.2040 and 1.2400. Our view was not wrong as GBP traded in a choppy manner the last few days. The price actions offer no fresh clues and the outlook remains mixed. Only a break out of the expected range of 1.2130/1.2380 (narrowed from 1.2040/1.2400) would suggest a directional move is likely.”
© 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
