In opinion of FX Strategists at UOB Group, Cable could still breach the 1.3670 level in the short-term. Key Quotes 24-hour view: “GBP dipped to 1.3670 last Friday before staging a mild recovery. Despite the bounce from the low, it is too soon to expect a sizeable rebound. For today, GBP is more likely to consolidate and trade sideways, expected to be within a 1.3670/1.3740 range.” Next 1-3 weeks: “Last Thursday (08 Apr, spot at 1.3745), we indicated that ‘there is room for GBP to test last month’s low near 1.3670’. We added, ‘at this stage, the prospect for a sustained decline below this level is not high’. GBP subsequently dropped to 1.3670 on Friday before recovering slightly. Downward momentum has not improved by much but a clear break of 1.3670 is not ruled out. However, any further weakness is expected to struggle to move below the next support at 1.3640. On the upside, a break of 1.3780 (‘strong resistance’ level previously at 1.3840) would indicate that the current downward pressure has eased.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Dollar kicks off the week on a high note, virus, inflation fears persist FX Street 2 years In opinion of FX Strategists at UOB Group, Cable could still breach the 1.3670 level in the short-term. Key Quotes 24-hour view: "GBP dipped to 1.3670 last Friday before staging a mild recovery. Despite the bounce from the low, it is too soon to expect a sizeable rebound. For today, GBP is more likely to consolidate and trade sideways, expected to be within a 1.3670/1.3740 range." Next 1-3 weeks: "Last Thursday (08 Apr, spot at 1.3745), we indicated that 'there is room for GBP to test last month's low near 1.3670'. We added, 'at this stage, the prospect for a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
