While the outlook on Cable remains tilted to the downside, the move is forecasted to be within a broad side-lined theme, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Our view for GBP to ‘dip towards 1.2150’ was incorrect as it rebounded sharply from a low of 1.2166 (overnight high of 1.2383). Despite the relatively strong bounce, upward momentum has not improved by much. However, GBP could edge above the overnight high but any advance is viewed as part of a 1.2250/1.2420 range (a sustained rise above 1.2420 is not expected).” Next 1-3 week: “There is not much to add to the update from Monday (06 Apr, spot at 1.2230). As highlighted, the ‘the immediate risk from here is tilted to the downside but any weakness is viewed as part of a broad 1.1950/1.2420 range’. GBP dropped to 1.2166 yesterday (07 Apr) before rebounding quickly. After the strong bounce, GBP could test the top of the expected at 1.2420 but for now, the prospect for a sustained rise above 1.2420 is not high.” 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/CHF Price Analysis: Recovers from 50-day SMA, but still below key resistances FX Street 2 years While the outlook on Cable remains tilted to the downside, the move is forecasted to be within a broad side-lined theme, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “Our view for GBP to ‘dip towards 1.2150’ was incorrect as it rebounded sharply from a low of 1.2166 (overnight high of 1.2383). Despite the relatively strong bounce, upward momentum has not improved by much. However, GBP could edge above the overnight high but any advance is viewed as part of a 1.2250/1.2420 range (a sustained rise above 1.2420 is not expected).” Next 1-3 week: “There is not much… 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.
