In the view of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, GBP/USD is still seen navigating the 1.2030-1.2270
rang for the time being. Key Quotes 24-hour view:We highlighted last Friday that GBP “could rise above 1.2230, but it is unlikely to be able to maintain a foothold above this level.” We also highlighted that “the major resistance at 1.2270 is unlikely to come under threat.” However, the price action did not develop as we anticipated. In NY trade, GBP plunged to a low of 1.2107 and then lifted off to surge to a high of 1.2262.
From here, the outlook is unclear, and GBP could trade in a relatively broad range of 1.2130/1.2270 today. Next 1-3 weeks:In our latest narrative from last Thursday , we highlighted that the recent downward momentum buildup has faded and the current price movement is likely part of a range-trading phase. We expected GBP to trade between 1.2030 and 1.2270. There is no change in our view. Looking ahead, if GBP breaks clearly above 1.2270, it could trigger a recovery to 1.2350.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
EUR/USD: Rebound could extend to 1.0630 – UOBMarkets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group suggest the recovery in EUR/USD is expected to reach 1.0630 in the
Baca lebih lajut »
GBP/USD manages to hold above 1.2200, bulls remain on the sidelines amid geopolitical tensionsThe GBP/USD pair attracts some dip-buying following a modest bearish gap opening to sub-1.2200 levels on the first day of a new week and moves back cl
Baca lebih lajut »
The Range Trade is Alive and Well as Markets Ponder Central Bank Rate StrikeRange Trading Unfolds as Several Major Global Central Banks May Have Put the Cue Back in the Rack on Rate Rises.
Baca lebih lajut »
Why markets shouldn't sweat the blockbuster jobs reportThe data is probably less worrying on the inflation and interest rates fronts than it looks.
Baca lebih lajut »
Top 5 things to watch in markets in the week aheadTop 5 things to watch in markets in the week ahead
Baca lebih lajut »