Cable keeps recovering ground lost and is now targeting the 1.3020 region, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we held the view that ‘the prospect for a rise beyond 1.2930 is unlikely’. We underestimated GBP strength as it soared to an overnight high of 1.2967. Further advance in GBP appears likely even though a break of last week’s peak near 1.3020 would come as a surprise (minor resistance is at 1.2995). Support is at 1.2920 followed by 1.2880.” Next 1-3 weeks: “We highlighted yesterday (05 Mar, spot at 1.2870) that ‘odds for GBP to move to 1.2700 have diminished’. We added, ‘a break of 1.2900 would indicate that 1.2726 is an interim bottom’. However, the subsequent strong advance that sent GBP to a high of 1.2967 was not exactly expected. The current movement is viewed as part of a recovery phase and GBP could move above last week’s peak near 1.3020. At this stage, the prospect for further extension to 1.3070 is not high. Overall, GBP is expected to trade on a firm footing from here as long as the ‘strong support’ at 1.2850 is intact.” 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/JPY nosedives to fresh six-month lows, risks breaking below 105.00 mark FX Street 3 years Cable keeps recovering ground lost and is now targeting the 1.3020 region, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we held the view that ‘the prospect for a rise beyond 1.2930 is unlikely’. We underestimated GBP strength as it soared to an overnight high of 1.2967. Further advance in GBP appears likely even though a break of last week’s peak near 1.3020 would come as a surprise (minor resistance is at 1.2995). Support is at 1.2920 followed by 1.2880.” Next 1-3 weeks: “We highlighted yesterday (05 Mar, spot at 1.2870)… 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.