According to FX Strategists at UOB Group, Cable’s rebound could extend towards the 1.3100 handle in the next weeks. Key Quotes 24-hour view: “GBP traded between 1.2952 and 1.3042 last Friday, narrower than our expected 1.2940/1.3060 consolidation range. However, GBP opened higher this morning as Brexit news over the weekend sent it briefly to a high of 1.3065 during early Sydney hours. The volatile price action has resulted in a mixed outlook and GBP is likely to continue to trade in a choppy manner and within a broad range. Expected range for today; 1.2950/1.3050″. Next 1-3 weeks: “There is not much to add to last Friday’s (02 Nov, spot 1.3000) update. As highlighted, despite the strong advance in GBP, we do not think the price action is the start of a major bullish reversal. That said, we see room for the current GBP strength to extend to 1.3100 but in view of the severely overbought conditions, the rally should at least temporary ease upon off from there. On the downside, 1.2840 is likely strong enough to hold any interim GBP weakness, at least for the next one week or so”. 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 US: ISM non-manufacturing to slip back 59.4 in October – TDS FX Street 4 years According to FX Strategists at UOB Group, Cable's rebound could extend towards the 1.3100 handle in the next weeks. Key Quotes 24-hour view: "GBP traded between 1.2952 and 1.3042 last Friday, narrower than our expected 1.2940/1.3060 consolidation range. However, GBP opened higher this morning as Brexit news over the weekend sent it briefly to a high of 1.3065 during early Sydney hours. The volatile price action has resulted in a mixed outlook and GBP is likely to continue to trade in a choppy manner and within a broad range. Expected range for today; 1.2950/1.3050". Next 1-3 weeks: "There 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.
