In opinion of FX Strategists at UOB Group, Cable’s upside momentum remains well and sound for the time being. Key Quotes 24-hour view: “Our expectation for GBP to ‘move above last month’s peak near 1.4020’ did not materialize as it pulled back from 1.4009. Overbought conditions combined with waning momentum suggest that GBP has moved into a consolidation phase. For today, GBP is likely to trade between 1.3900 and 1.3990.” Next 1-3 weeks: “Our update from yesterday still stands. As highlighted, the sharp and rapid rise in GBP earlier this week appears to be a bit overdone but is not showing any sign of weakening just yet. GBP could advance further even though the next major resistance at 1.4100 may not come into the picture so soon. On the downside, a breach of 1.3850 (no change in in ‘strong support’ level) would indicate that the current GBP strength has come to an end.” 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 Asian Stock Market: Nikkei 225 refreshes monthly low as virus woes weigh on sentiment FX Street 2 years In opinion of FX Strategists at UOB Group, Cable's upside momentum remains well and sound for the time being. Key Quotes 24-hour view: "Our expectation for GBP to 'move above last month's peak near 1.4020' did not materialize as it pulled back from 1.4009. Overbought conditions combined with waning momentum suggest that GBP has moved into a consolidation phase. For today, GBP is likely to trade between 1.3900 and 1.3990." Next 1-3 weeks: "Our update from yesterday still stands. As highlighted, the sharp and rapid rise in GBP earlier this week appears to be a bit overdone but is not… 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.
