Cable is expected to keep navigating between the 1.2150-1.2350 range in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “After the strong surge in GBP on Tuesday (26 May), we indicated yesterday that GBP ‘may not have enough fuel to move clearly above the overnight high of 1.2363’. However, against our expectation for sideway-trading within a 1.2265/1.2365 range, GBP plunged after touching a high of 1.2354 (low of 1.2201). The subsequent rapid bounce from the low suggests that 1.2201 could be a short-term bottom. For today, GBP is likely to consolidate and trade between 1.2220 and 1.2320.” Next 1-3 weeks: “The rapid manner by which GBP gave up most of its gains from Tuesday came as a surprise. Our expectation from yesterday (27 May, spot at 1.2315) for GBP to trade with an upward bias towards 1.2400 was proven wrong as GBP dropped below the ‘strong support’ level of 1.2230 (low of 1.2201). The sharp but short-lived swings have resulted in mixed outlook. From here, GBP could continue to trade in a choppy manner, likely within a 1.2150/1.2350 range.” 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 Gold: Short-term relief after holding the $1700 support FX Street 3 years Cable is expected to keep navigating between the 1.2150-1.2350 range in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “After the strong surge in GBP on Tuesday (26 May), we indicated yesterday that GBP ‘may not have enough fuel to move clearly above the overnight high of 1.2363’. However, against our expectation for sideway-trading within a 1.2265/1.2365 range, GBP plunged after touching a high of 1.2354 (low of 1.2201). The subsequent rapid bounce from the low suggests that 1.2201 could be a short-term bottom. For today, GBP is likely to consolidate and trade between 1.2220… 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.