In opinion of FX Strategists at UOB Group, Cable is seen keeping the rangebond theme unchanged for the next weeks. Key Quotes 24-hour view: “GBP staged a surprisingly rapid and robust rebound as it regained most of last Friday’s steep drop. While upward momentum has not improved by all that much, there is scope for GBP to test 1.2930. For today, the next resistance at 1.2960 is unlikely to come into the picture. Support is at 1.2870 followed by 1.2850″. Next 1-3 weeks: “While GBP dropped sharply last Friday (22 Nov), it rebounded strongly and recovered most of its loss yesterday (1.2898, +0.49%). Indicators are showing mixed signals and from a slightly longer-term perspective, the price action since last month’s 1.3012 peak could be part of a broad and prolonged sideway consolidation phase (note that we previously expected GBP to stay underpinned but held the view that a move above 1.3012 is unlikely). To put it another way, GBP could trade between 1.3012 and the month-to-date low near 1.2770 for a while more”. 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 Breaking: RBA’s Lowe: QE is “not on our agenda” at this point, Aussie jumps to 0.6800 FX Street 3 years In opinion of FX Strategists at UOB Group, Cable is seen keeping the rangebond theme unchanged for the next weeks. Key Quotes 24-hour view: "GBP staged a surprisingly rapid and robust rebound as it regained most of last Friday's steep drop. While upward momentum has not improved by all that much, there is scope for GBP to test 1.2930. For today, the next resistance at 1.2960 is unlikely to come into the picture. Support is at 1.2870 followed by 1.2850". Next 1-3 weeks: "While GBP dropped sharply last Friday (22 Nov), it rebounded strongly and recovered most of its loss… 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.
