GBP/USD still seen within 1.3800 and 1.4000 – UOB

Pablo Piovano FXStreet

Cable is expected to navigate within the 1.3800-1.4000 range in the next weeks, noted FX Strategists at UOB Group.

Key Quotes

24-hour view: “GBP traded between 1.3877 and 1.3926 yesterday, narrower than our expected range of 1.3845/1.3930. While further sideway-trading would not be surprising, the slightly firmed underlying tone suggests a higher range of 1.3870/1.3940.”

Next 1-3 weeks: “There is not much to add to our update from Tuesday (04 May, spot at 1.3905). As highlighted, the recent rapid swings have resulted in a mixed outlook and GBP is likely to trade between 1.3800 and 1.4000 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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