Cable’s near term stance keeps pointing to a continuation of the rangebound theme, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “GBP registered a range of 1.3097/1.3151 yesterday, narrower than our expected 1.3080/1.3150 consolidation range. The undertone has improved somewhat and there is room for GBP to edge above the 1.3150 resistance but lackluster momentum suggests that the next resistance at 1.3180 is unlikely to be challenged. Support is at 1.3100 followed by the relatively strong level of 1.3080″. Next 1-3 weeks: “There is not much to add as GBP traded within a tight 49 pips range last Friday, the narrowest 1-day range in two months. The quiet consolidation offers no fresh clue and we continue to hold a neutral stance and expect GBP to trade sideways from here, likely within a 1.3010/1.3220 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 GBP futures: further rangebound expected FX Street 5 years Cable's near term stance keeps pointing to a continuation of the rangebound theme, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "GBP registered a range of 1.3097/1.3151 yesterday, narrower than our expected 1.3080/1.3150 consolidation range. The undertone has improved somewhat and there is room for GBP to edge above the 1.3150 resistance but lackluster momentum suggests that the next resistance at 1.3180 is unlikely to be challenged. Support is at 1.3100 followed by the relatively strong level of 1.3080". Next 1-3 weeks: "There is not much to add as GBP traded within a tight 49 pips range last… 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.
