Cable’s probability of a visit to the 1.2700 level appears to have lost some momentum as of late, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “Our view for GBP yesterday was that it “could edge higher towards 1.2860 but 1.2900 is not expected to come into the picture”. The pace of the subsequent advance was faster than expected as GBP rose quickly to an overnight high of 1.2873 (before ending the day right at the high in NY). Upward pressure has improved further and GBP could edge above the strong resistance at 1.2900. For today, the prospect for a rise beyond 1.2930 is not high. The current upward pressure is deemed as intact as long as the support at 1.2820 is not taken out (minor support is at 1.2845).” Next 1-3 weeks: “After GBP dropped sharply to a low of 1.2726 last Friday, we indicated on Monday (02 Mar, spot at 1.2805) that ‘the downside in GBP is exposed even though 1.2700 is a strong support and may not come into the picture so soon’. Since then, GBP has not been able to make much headway on the downside. Downward momentum has eased and the odds for a move to 1.2700 have diminished. From here, unless GBP can move and stay below 1.2820 within these few days, a break of 1.2900 would indicate that 1.2726 is an interim bottom.” 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 USD/CAD clings to gains near session tops, just above 1.3400 mark FX Street 3 years Cable’s probability of a visit to the 1.2700 level appears to have lost some momentum as of late, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “Our view for GBP yesterday was that it “could edge higher towards 1.2860 but 1.2900 is not expected to come into the picture”. The pace of the subsequent advance was faster than expected as GBP rose quickly to an overnight high of 1.2873 (before ending the day right at the high in NY). Upward pressure has improved further and GBP could edge above the strong resistance at 1.2900. For today, 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.