GBP/USD faces extra consolidation in the near term – UOB

Pablo Piovano FXStreet

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD is expected to navigate within the 1.2650-1.2850 range in the next few weeks.

Key Quotes

24-hour view: Yesterday, we expected GBP to trade in a range between 1.2685 and 1.2750. The price actions offer no fresh clues and today, we expect GBP to trade in a range between 1.2700 and 1.2770.

Next 1-3 weeks: Our most recent narrative from last Thursday (22 Jun, spot at 1.2770) still stands. As highlighted, GBP is likely to trade between 1.2650 and 1.2850 for now.

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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