- Analytics
- News and Tools
- Market News
- GBP/USD sticks to the consolidative range – UOB
GBP/USD sticks to the consolidative range – UOB
GBP/USD is likely to maintain the ongoing consolidation within 1.1970-1.2150 range in the next weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: “We highlighted yesterday that ‘the sharp pullback has scope to extend but any decline is viewed as part of a lower trading range of 1.1970/1.2090’. We added, ‘a sustained drop below 1.1970 is unlikely’. GBP subsequently traded between 1.1965 and 1.2088 before closing little changed at 1.2025 (+0.06%). The price actions are likely part of a consolidation phase and today, we expect GBP to trade sideways between 1.1970 and 1.2085.”
Next 1-3 weeks: “Our update from two days ago (28 Feb, spot at 1.2065) is still valid. As highlighted, GBP is likely to consolidate and trade in a broad range of 1.1970 and 1.2150 for the time being.”
© 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
