FX Strategists at UOB Group noted the pair’s outlook remains mixed in the near term. Key Quotes 24-hour view: “The strong rebound in GBP last Friday appears to be running ahead of itself. That said, there is scope for the recovery to extend higher even though a clear break above 1.3210 would come as a surprise (1.3180 is already a relatively strong resistance). Support is at 1.3110 followed by 1.3080″. Next 1-3 weeks: “While GBP broke the major 1.3040/50 support zone last week, the decline was short-lived as it staged a robust rebound after touching a low of 1.2958 last Thursday (19 Jul). The choppy price action has resulted in a mixed outlook and we continue to hold a neutral stance for now and expect GBP to continue to trade in a relatively volatile manner, likely within a broad 1.3050/1.3250 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. View All Post By FX Street FXStreet News share Read Next Markets: Manufacturing PMIs and USD GDP to be the highlight this week – Rabobank FX Street 5 years FX Strategists at UOB Group noted the pair's outlook remains mixed in the near term. Key Quotes 24-hour view: "The strong rebound in GBP last Friday appears to be running ahead of itself. That said, there is scope for the recovery to extend higher even though a clear break above 1.3210 would come as a surprise (1.3180 is already a relatively strong resistance). Support is at 1.3110 followed by 1.3080". Next 1-3 weeks: "While GBP broke the major 1.3040/50 support zone last week, the decline was short-lived as it staged a robust rebound after touching a low of 1.2958 last… 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.
