FX Strategists at UOB Group suggested Cable could extend the current consolidative theme. Key Quotes 24-hour view: “We highlighted yesterday, “the immediate risk is on the upside but a sustained break above 1.3220 would come as a surprise”. GBP staged a brief up-move after FOMC’s announcement but reversed quickly after touching a high of 1.3218. While upward pressure has eased, it is too early to expect a significant pullback. GBP is more likely to trade sideways to slightly lower from here. Expected range for today; 1.3130/1.3210″. Next 1-3 weeks: “GBP touched a high of 1.3218 yesterday, just a couple of pips below the top of our expected 1.3020/1.3220 consolidation range. As highlighted yesterday, despite the rather sharp rebound from last Friday’s 1.3041 low, we continue to view the current price action as part of a consolidation phase. Looking further ahead, a clear break above 1.3220 would be a good indication that GBP is ready to challenge last week’s 1.3295 top”. 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 USD/JPY recovers early lost ground, turns positive ahead of US macro data FX Street 4 years FX Strategists at UOB Group suggested Cable could extend the current consolidative theme. Key Quotes 24-hour view: "We highlighted yesterday, "the immediate risk is on the upside but a sustained break above 1.3220 would come as a surprise". GBP staged a brief up-move after FOMC's announcement but reversed quickly after touching a high of 1.3218. While upward pressure has eased, it is too early to expect a significant pullback. GBP is more likely to trade sideways to slightly lower from here. Expected range for today; 1.3130/1.3210". Next 1-3 weeks: "GBP touched a high of 1.3218 yesterday, just a couple of… 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.
