- Analytics
- News and Tools
- Market News
- GBP/USD: Still scope for a move to 1.2745 – UOB
GBP/USD: Still scope for a move to 1.2745 – UOB
Extra gains could still lift GBP/USD to the 1.2745 level in the next few weeks, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: GBP traded between 1.2665 and 1.2733 yesterday before ending the day unchanged at 1.2695. The price action is likely part of a rangetrading phase. Today, GBP could continue to trade in a range, albeit a lower one of 1.2655/1.2720.
Next 1-3 weeks: Our most recent update was from a week ago (23 Nov, spot at 1.2490), wherein GBP “is likely to trade between 1.2360 and 1.2560 for the time being.” GBP then rose above 1.2560, and yesterday, it reached a high of 1.2733. Despite the advance, upward momentum has not increased much. However, as long as 1.2600 is not breached (‘strong support’ level), there is room for it to advance to 1.2745 before the risk of a pullback increases. At this time, the chance of GBP rising to the next resistance at 1.2795 is not high.
© 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
