In opinion of FX Strategists at UOB Group, Cable risks further downside in the near-term, although within the broader 1.2950/1.3160 range. Key Quotes 24-hour view: “We highlighted yesterday that ‘indicators are showing ‘mixed’ signals and for today, GBP could trade in a choppy manner between 1.3030 and 1.3130’. Our view was not wrong as GBP subsequently traded between 1.3044 and 1.3132. Downward momentum is beginning to improve and, GBP could drift lower to 1.3005. For today, a sustained decline below 1.3005 is not expected (next support is at 1.2950). Resistance is at 1.3080 followed by followed by 1.3110.” Next 1-3 weeks: “There is not much to add to the update from yesterday (11 Aug, spot at 1.3075). As highlighted, last week’s high of 1.3185 is likely a shortterm top. The current movement is viewed as part of consolidation phase. For the next couple of weeks, GBP is likely to drift lower but any weakness is viewed as part of a 1.2950/1.3160 range. Looking forward, only a clear break below 1.2950 would indicate that GBP is ready for a deeper pull-back.” 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 Germany’s Spahn: Must be very alert about the surge in new coronavirus cases FX Street 2 years In opinion of FX Strategists at UOB Group, Cable risks further downside in the near-term, although within the broader 1.2950/1.3160 range. Key Quotes 24-hour view: “We highlighted yesterday that ‘indicators are showing ‘mixed’ signals and for today, GBP could trade in a choppy manner between 1.3030 and 1.3130’. Our view was not wrong as GBP subsequently traded between 1.3044 and 1.3132. Downward momentum is beginning to improve and, GBP could drift lower to 1.3005. For today, a sustained decline below 1.3005 is not expected (next support is at 1.2950). Resistance is at 1.3080 followed by followed by 1.3110.” Next 1-3… Top 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.