In view of FX Strategists at UOB Group, Cable could attempt a visit to the upper end of the 1.3050-1.3250 range. Key Quotes 24-hour view: “We highlighted yesterday that “there is room for GBP to probe the 1.3180 resistance” and added, “a clear break of this level is not expected”. The anticipated strength exceeded our expectation as GBP hit an overnight high of 1.3200. Upward momentum has improved further and the risk is still on the upside. However, 1.3250 is a rather strong resistance and this level is unlikely to yield so easily (there is another major resistance at 1.3300). On the downside, only a break back below 1.3135 would indicate that the current upward pressure has eased (minor support is at 1.3160)”. Next 1-3 weeks: “There is not much to add to yesterday’s update. Underlying tone has however improved and the top of the expected 1.3050/1.3250 range is likely to be tested soon. At this stage, the prospect for a clear break of the next resistance at 1.3300 is not high”. 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 NEO price analysis: NEO/USD jumps 6.14% on the day; but still locked below $35.50 resistance FX Street 5 years In view of FX Strategists at UOB Group, Cable could attempt a visit to the upper end of the 1.3050-1.3250 range. Key Quotes 24-hour view: "We highlighted yesterday that "there is room for GBP to probe the 1.3180 resistance" and added, "a clear break of this level is not expected". The anticipated strength exceeded our expectation as GBP hit an overnight high of 1.3200. Upward momentum has improved further and the risk is still on the upside. However, 1.3250 is a rather strong resistance and this level is unlikely to yield so easily (there is another major resistance at 1.3300).… 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.
