Cable is expected to keep the consolidative mood unchanged in the next weeks, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “The quick bounce from a low of 1.2166 yesterday has resulted in an up-tick in momentum. While this could lead to a slightly higher GBP, any advance is viewed as part of a 1.2180/1.2240 range. In other words, a sustained rise above 1.2235 is not expected for today.” Next 1-3 weeks: “GBP traded in a quiet manner over of the few days and there is not much to add to our update from last Wednesday (20 May, spot at 1.2260). As highlighted, GBP is trading in a consolidation phase even though a 1.2100/1.2320 range is likely enough to contain the price action in GBP for a while more (range narrowed from 1.2100/1.2400 previously).” 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 WTI Price Analysis: Prints over 1.0% gains in Asia, 100-day EMA eyed above $34.00 FX Street 3 years Cable is expected to keep the consolidative mood unchanged in the next weeks, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “The quick bounce from a low of 1.2166 yesterday has resulted in an up-tick in momentum. While this could lead to a slightly higher GBP, any advance is viewed as part of a 1.2180/1.2240 range. In other words, a sustained rise above 1.2235 is not expected for today.” Next 1-3 weeks: “GBP traded in a quiet manner over of the few days and there is not much to add to our update from last Wednesday (20… 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.
