Cable could see its upside renewed on a breakout of the 1.3710 level in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that ‘1.3700 is unlikely to come into the picture’. However, GBP popped to a high of 1.3720, dropped quickly to 1.3623 before snapping back up. The price actions have resulted in a mixed outlook and for today, GBP is likely to trade between 1.3620 and 1.3720.” Next 1-3 weeks: “There is not much to add to our update from yesterday (20 Jan, spot at 1.3645). As highlighted, GBP ‘has to close above 1.3710 before a sustained advance can be expected’. GBP subsequent rose to 1.3720 before retreating to close at 1.3660 (+0.18%). While momentum is positive, it appears ‘tentative’ for now and we continue to wait for added confirmation of a daily closing above 1.3710 before expecting a move to 1.3760, possibly 1.3800. On the downside, a break of 1.3580 (‘strong support’ level was at 1.3550 yesterday) would indicate that the upside risk has dissipated.” 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 Crude Oil Futures: Probable correction lower FX Street 2 years Cable could see its upside renewed on a breakout of the 1.3710 level in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that ‘1.3700 is unlikely to come into the picture’. However, GBP popped to a high of 1.3720, dropped quickly to 1.3623 before snapping back up. The price actions have resulted in a mixed outlook and for today, GBP is likely to trade between 1.3620 and 1.3720.” Next 1-3 weeks: “There is not much to add to our update from yesterday (20… 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.
