GBP/USD expected to maintain the consolidative mood – UOB

Pablo Piovano FXStreet

GBP/USD is still seen trading within the 1.2640-1.2830 range for the time being, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: GBP closed little changed last Friday (1.2736, -0.09%). There is no clear directional bias and GBP is likely to trade sideways. Expected range for today, 1.2700/1.2775.

Next 1-3 weeks: GBP traded mostly sideways over the past week. The price movements appear to be part of a consolidation phase. From here, GBP could continue to trade sideways, likely between 1.2640 and 1.2830.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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