Home GBP/USD looks neutral in the near term – UOB
FXStreet News

GBP/USD looks neutral in the near term – UOB

FX Strategists at UOB Group remain neutral on Cable while added that further consolidation is expected in the short-term horizon.

Key Quotes

24-hour view: “Expectation for a ‘dip below 1.3070’ did not pan out as GBP recovered from a low of 1.3082 and subsequently traded sideways. Indicators have turned ‘flat’ and further muted price action seems likely from here. Expected range for today; 1.3080/1.3150″.

Next 1-3 weeks: “There is not much to add as GBP traded within a tight 49 pips range last Friday, the narrowest 1-day range in two months. The quiet consolidation offers no fresh clue and we continue to hold a neutral stance and expect GBP to trade sideways from here, likely within a 1.3010/1.3220 range”.

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.