GBP/USD sticks to the range bound theme near term – UOB – by pabspiovano GBPUSD Currencies Majors Banks
is now seen navigating within the 1.2040-1.2260 range in the short-term horizon, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that ‘a sustained rise above the major resistance at 1.2200 is unlikely’. In NY trade, GBP popped to a high of 1.2269, dropped quickly from the high and traded choppily before ending the day at 1.2176 .
Next 1-3 weeks: “Yesterday , we highlighted that instead of heading lower, GBP is more likely to consolidate and trade between 1.2040 and 1.2260. GBP popped briefly to 1.2269 in NY trade before closing at 1.2176 . There is no change in our view and we continue to expect GBP to trade between 1.2040 and 1.2260.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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