Cable is still seen within the 1.21/1.24 range in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “GBP recovered after touching a low of 1.2187 yesterday. The price action was in line with our expectation that GBP ‘has scope to dip below 1.2200 but 1.2175 is likely out of reach’. The relatively quiet trading has resulted in momentum indicators turning neutral. For today, GBP is expected to consolidate and trade between the two strong levels of 1.2175 and 1.2270.” Next 1-3 weeks: “GBP traded in a quiet manner yesterday within a relatively narrow range of 62 pips (between 1.2187 and 1.2249). The price action offers no fresh clues and for now, we continue to hold on to the view from Wednesday (20 May, spot at 1.2260) wherein GBP is in a consolidation phase and is likely to trade within a 1.2100/1.2400 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 Asian stock market: Hang Seng’s 5.0% fall drowns the others, RBI/BOJ fail to please traders FX Street 2 years Cable is still seen within the 1.21/1.24 range in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “GBP recovered after touching a low of 1.2187 yesterday. The price action was in line with our expectation that GBP ‘has scope to dip below 1.2200 but 1.2175 is likely out of reach’. The relatively quiet trading has resulted in momentum indicators turning neutral. For today, GBP is expected to consolidate and trade between the two strong levels of 1.2175 and 1.2270.” Next 1-3 weeks: “GBP traded in a quiet manner yesterday within a relatively narrow range 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.
