Cable’s stance is now pointing to further upside in the near-term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that GBP ‘is expected to continue to trade sideways, likely between 1.2440 and 1.2510’. GBP subsequently traded within a narrower range than expected (between 1.2470 and 1.2520). The underlying tone has improve somewhat and this could lead to GBP edging higher to 1.2540. For today, the major resistance at 1.2580 is not expected to come into the picture. Support is at 1.2470 followed by 1.2450.” Next 1-3 weeks: “GBP traded in relatively quiet manner over the past couple of days and there is not much to add to our view from last Thursday (02 Jul, spot at 1.2475). As highlighted, GBP is expected to trade with an upside bias but the prospect for a sustained advance above 1.2580 is not high for now. On the downside, only a break of 1.2400 (‘strong support’ level previously at 1.2355) would indicate the current upward 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 UK’s Raab: Reject China’s criticism of gross interference FX Street 3 years Cable’s stance is now pointing to further upside in the near-term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that GBP ‘is expected to continue to trade sideways, likely between 1.2440 and 1.2510’. GBP subsequently traded within a narrower range than expected (between 1.2470 and 1.2520). The underlying tone has improve somewhat and this could lead to GBP edging higher to 1.2540. For today, the major resistance at 1.2580 is not expected to come into the picture. Support is at 1.2470 followed by 1.2450.” Next 1-3 weeks: “GBP traded in relatively quiet manner over the… 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.
