GBP: Confined to the range between $1.2090 and $1.2375 - BBH
|Research Team at BBH, notes that since the flash crash on October 7, sterling has been confined to the range set on October 11 between $1.2090 and $1.2375.
Key Quotes
“Having tested the upside a few days ago (~$1.2330), it is poised to test the lower end next week. However, the technical indicators warn against expectations of steep losses. The Slow Stochastics have crossed higher, while the MACDs are set to turn up early next week. Choppy, but broadly sideways trading seems like the most likely near-term scenario.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.