Cable needs to keep busines above 1.3725 to allow for a move to the 1.3800 level in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Our expectation for GBP to ‘break 1.3760’ was wrong as it dropped sharply to 1.3636 before rebounding to close at 1.3682 (-0.39%). The rapid decline appears to be running ahead of itself and further weakness appears unlikely. GBP is more likely to consolidate and trade sideways between 1.3640 and 1.3725.” Next 1-3 weeks: “Last Friday (22 Jan, spot at 1.3735), we noted that upward momentum has improved and we held the view that GBP ‘is likely to strengthen towards 1.3800’. The subsequent swift drop to a low of 1.3638 came as a surprise. While our ‘strong support’ level at 1.3630 is still intact, upward momentum has been dented. In order to rejuvenate the flagging momentum, GBP has to move and stay above 1.3725 within these 1 to 2 days or odds for a move to 1.3800 would diminish quickly. Conversely, a break of 1.3630 would indicate GBP could trade sideways for a while.” 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: Further correction likely FX Street 1 year Cable needs to keep busines above 1.3725 to allow for a move to the 1.3800 level in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Our expectation for GBP to ‘break 1.3760’ was wrong as it dropped sharply to 1.3636 before rebounding to close at 1.3682 (-0.39%). The rapid decline appears to be running ahead of itself and further weakness appears unlikely. GBP is more likely to consolidate and trade sideways between 1.3640 and 1.3725.” Next 1-3 weeks: “Last Friday (22 Jan, spot at 1.3735), we noted that upward momentum has improved and we held… 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.
