Cable could be headed towards the 1.2550 region in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The quiet consolidation in GBP last Friday has resulted in momentum turning flat. In other words, GBP is expected to trade sideways for today, likely between 1.2425 and 1.2490.” Next 1-3 weeks: “While GBP rose and touched a 1-month high of 1.2488 last week, upward momentum has not improved by much. However, the bias from here is for further GBP strength towards 1.2550. Looking ahead, GBP could move above 1.2550 but the odds for a sustained advance above the next resistance at 1.2600 are not high for now. On the downside, a breach of 1.2350 (‘strong support’ level) would indicate the current mild 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 GBP Futures: Recovery stays on the cards FX Street 2 years Cable could be headed towards the 1.2550 region in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The quiet consolidation in GBP last Friday has resulted in momentum turning flat. In other words, GBP is expected to trade sideways for today, likely between 1.2425 and 1.2490.” Next 1-3 weeks: “While GBP rose and touched a 1-month high of 1.2488 last week, upward momentum has not improved by much. However, the bias from here is for further GBP strength towards 1.2550. Looking ahead, GBP could move above 1.2550 but the odds for a sustained advance above… 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.
