Cable could attempt to reach the 1.2700 mark in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “GBP dipped and touched the bottom of our expected 1.2500/1.2600 range (low of 1.2500) before soaring past the top of range to hit an overnight high of 1.2633. Upward momentum has picked up, albeit not by much. From here, GBP could move above 1.2650 but the major 1.2700 resistance is unlikely to come into the picture for today. Support is at 1.2550 followed by 1.2500.” Next 1-3 weeks: “While our positive view for GBP was correct, our expectation from Wednesday (03 Jun, spot at 1.2580) that ‘1.2650 could come in the picture relatively quickly’ did not quite materialize (GBP touched an overnight high of 1.2633). Upward momentum has slowed a tad but only a breach of 1.2480 (‘strong support’ was previously at 1.2460) would indicate that the positive phase has come to an end. Until then, a move to 1.2700 is still a distinct possibility.” 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 Gold Futures: Upside seen losing traction FX Street 2 years Cable could attempt to reach the 1.2700 mark in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “GBP dipped and touched the bottom of our expected 1.2500/1.2600 range (low of 1.2500) before soaring past the top of range to hit an overnight high of 1.2633. Upward momentum has picked up, albeit not by much. From here, GBP could move above 1.2650 but the major 1.2700 resistance is unlikely to come into the picture for today. Support is at 1.2550 followed by 1.2500.” Next 1-3 weeks: “While our positive view for GBP was correct, our expectation… 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.
