In view of FX Strategists at UOB Group, Cable’s upside momentum has run out of steam as of late. Key Quotes 24-hour view: “GBP traded sideways within a 1.3225/1.3301 range yesterday, narrower than our expected 1.3200/1.3300 consolidation range. Indicators are still mostly neutral and further consolidation seems likely from here. Expected range for today; 1.3210/1.3310″. Next 103 weeks: “GBP hit a ‘fresh’ high of 1.3363 yesterday before news of Boris Johnson’s resignation sent it tumbling to a low of 1.3189. The breach of the ‘key support’ at 1.3200 suggests that the recent upward pressure has eased. While there is no change to the neutral outlook, GBP has likely moved into a consolidation phase and is expected to trade sideways for the next several days, likely within a broad 1.3150/1.3350 range. Looking further ahead, the bias appears to be tilted to the upside but the levels just below 1.3400 are acting as a major resistance zone now and it may take a while before GBP is ready to challenge this zone”. 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/CAD off-highs, consolidates around 1.3135 ahead of BOC FX Street 4 years In view of FX Strategists at UOB Group, Cable's upside momentum has run out of steam as of late. Key Quotes 24-hour view: "GBP traded sideways within a 1.3225/1.3301 range yesterday, narrower than our expected 1.3200/1.3300 consolidation range. Indicators are still mostly neutral and further consolidation seems likely from here. Expected range for today; 1.3210/1.3310". Next 103 weeks: "GBP hit a 'fresh' high of 1.3363 yesterday before news of Boris Johnson's resignation sent it tumbling to a low of 1.3189. The breach of the 'key support' at 1.3200 suggests that the recent upward pressure has eased. While there is no… Top 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.
