- Analytics
- News and Tools
- Market News
- GBP/USD seen trading within 1.2345-1.2510 – UOB
GBP/USD seen trading within 1.2345-1.2510 – UOB
In the opinion of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, GBP/USD is expected to trade within the 1.2345-1.2510 range in the next few weeks.
Key Quotes
24-hour view: “We highlighted yesterday that ‘the outlook for GBP is mixed’ and we expected it to ‘trade in a range between 1.2375 and 1.2475’. GBP subsequently traded in a relatively choppy manner between 1.2405 and 1.2468. The price actions are likely part of a consolidation and we expect GBP to trade in a range of 1.2400/1.2475 today.”
Next 1-3 weeks: “Our most recent narrative was from Monday (17 Apr, spot at 1.2405) wherein GBP ‘could edge lower but any decline is unlikely to break clearly below the major support at 1.2275’. However, GBP has not been able to make any headway on the downside. Downward pressure has faded and GBP is likely to trade sideways between 1.2345 and 1.2510 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
