Cable could see its upside accelerated on a break above the 1.3810 level in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Yesterday, we noted that GBP ‘could edge upwards but the major resistance at 1.3810 is unlikely to come under threat’. Instead of edging upward, GBP popped to 1.3809, dropped quickly to 1.3751 before rebounding to trade sideways for the rest of the session. Upward momentum has not improved and for today, GBP is likely to trade between 1.3740 and 1.3810.” Next 1-3 weeks: “On Monday (12 Apr, spot at 1.3705), we held the view that GBP is ‘likely to trade between 1.3670 and 1.3810’. GBP rose to 1.3809 yesterday (14 Apr) before easing off. While shorter-term momentum has not improved by much, a break of 1.3810 is not ruled out. That said, GBP has to close above 1.3810 before a sustained advance can be expected (next resistance is at 1.3850). At this stage, the prospect for such a move is not high but it would remain intact as long as GBP does not move below 1.3715 within these few days.” 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/IDR Price News: Rupiah trims intraday losses below $15,000 on Indonesia trade data FX Street 2 years Cable could see its upside accelerated on a break above the 1.3810 level in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: "Yesterday, we noted that GBP 'could edge upwards but the major resistance at 1.3810 is unlikely to come under threat'. Instead of edging upward, GBP popped to 1.3809, dropped quickly to 1.3751 before rebounding to trade sideways for the rest of the session. Upward momentum has not improved and for today, GBP is likely to trade between 1.3740 and 1.3810." Next 1-3 weeks: "On Monday (12 Apr, spot at 1.3705), we held the… 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.
