FX Strategists at UOB Group noted Cable’s stance remains mixed for the time being. Key Quotes 24-hour view: “The strong resistance indicated at 1.3250 yesterday was unthreatened as GBP dropped sharply from a high 1.3213. The surprisingly sharp and rapid decline appears to have scope to dip below the 1.3070 low seen earlier this week but at this stage, a break of the next support at 1.3035 is not expected. Only a move back above 1.3165 would indicate that a short-term low is in place (minor resistance is at 1.3145)”. Next 1-3 weeks: “The top of our expected 1.3050/1.3250 consolidation range was untested as GBP dropped quickly from a high of 1.3213. As highlighted in recent updates, the choppy price action in GBP over the past several days has resulted in a mixed outlook and the near-term direction is unclear. For now, we continue to hold a neutral stance and expect GBP to trade in a whippy manner, likely within a 1.3010/1.3220 range (slightly lower than the previous expectation of 1.3050/1.3250 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 Russia targets 200k-250k barrels per day oil-output increase – Bloomberg FX Street 5 years FX Strategists at UOB Group noted Cable's stance remains mixed for the time being. Key Quotes 24-hour view: "The strong resistance indicated at 1.3250 yesterday was unthreatened as GBP dropped sharply from a high 1.3213. The surprisingly sharp and rapid decline appears to have scope to dip below the 1.3070 low seen earlier this week but at this stage, a break of the next support at 1.3035 is not expected. Only a move back above 1.3165 would indicate that a short-term low is in place (minor resistance is at 1.3145)". Next 1-3 weeks: "The top of our expected 1.3050/1.3250 consolidation… 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.
