Cable could edge higher to the 1.3800 region in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected GBP to ‘trade between 1.3620 and 1.3720’ yesterday. However, it rose to 1.3745 before closing on a firm note at 1.3736 (+0.56%). Despite the gains, upward momentum has not improved by all that much. That said, the bias is for GBP to move higher and while a break above 1.3760 would not be surprising, the next resistance at 1.3800 is likely out of reach. On the downside, a break of 1.3685 would indicate that the current upward pressure has eased (minor support is at 1.3705).” Next 1-3 weeks: “On Wednesday (20 Jan, spot at 1.3645), we highlighted that GBP ‘has to close above 1.3710 before a sustained advance can be expected’. GBP rose to 1.3745 yesterday (21 Jan) before closing at 1.3736. Upward momentum has improved and GBP is likely to strengthen towards 1.3800. On the downside, a break of 1.3630 (‘strong support’ level was at 1.3580 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 EUR/GBP Price Analysis: Struggles to extend monthly resistance breakout towards 0.8900 FX Street 2 years Cable could edge higher to the 1.3800 region in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected GBP to ‘trade between 1.3620 and 1.3720’ yesterday. However, it rose to 1.3745 before closing on a firm note at 1.3736 (+0.56%). Despite the gains, upward momentum has not improved by all that much. That said, the bias is for GBP to move higher and while a break above 1.3760 would not be surprising, the next resistance at 1.3800 is likely out of reach. On the downside, a break of 1.3685 would indicate that the current… 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.
