Cable is expected to trade side-ways between 1.3670 and 1.3810 in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘it is too soon to expect a sizeable rebound’ and we expected GBP to ‘consolidate and trade sideways within a 1.3670/1.3740 range’. Our view was incorrect as GBP dipped to 1.3670 before rebounding strongly to 1.3776. The rebound appears to be running ahead of itself further GBP strength appears unlikely. For today, GBP is more likely to trade between 1.3700 and 1.3780.” Next 1-3 weeks: “Yesterday (12 Apr, spot at 1.3705), we noted that ‘downward momentum has not improved by much but a clear break of 1.3670 is not ruled out’. We added, ‘any further weakness is expected to struggle to move below the next support at 1.3640’. GBP subsequently dropped to 1.3670 before rebounding strongly to 1.3776. While our ‘strong resistance’ level at 1.3780 is still intact, downward momentum has waned and the prospect for a break of 1.3670 has diminished. For now, GBP is more likely to trade between 1.3670 and 1.3810.” 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 PBOC Adviser: Should make contingency plan to cope with possible Fed policy changes FX Street 2 years Cable is expected to trade side-ways between 1.3670 and 1.3810 in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "We highlighted yesterday that 'it is too soon to expect a sizeable rebound' and we expected GBP to 'consolidate and trade sideways within a 1.3670/1.3740 range'. Our view was incorrect as GBP dipped to 1.3670 before rebounding strongly to 1.3776. The rebound appears to be running ahead of itself further GBP strength appears unlikely. For today, GBP is more likely to trade between 1.3700 and 1.3780." Next 1-3 weeks: "Yesterday (12 Apr, spot at 1.3705), we… 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.
