GBP/USD expected to move within 1.3800-1.3930 – UOB

Cable moved to a consolidative segment and is considered navigating between 1,3800 and 1.3930 vary in the subsequent weeks.

Key Quotes
24-hour view: “Yesterday, we held the view that ‘the overbought enhance has room to check 1.3890’. GBP consequently rose to 1.3878 earlier than pulling again quickly. Upward strain has eased and GBP has probable moved into a consolidation phase. For today, GBP is probably to consolidate and change between 1.3820 and 1.3870.”

Next 1-3 weeks: “We proceed to keep the equal view as from the day prior to this (16 Aug, spot at 1.3865). As indicated, GBP is deemed to have moved into a consolidation section and may want to change inside a 1.3800/1.3930 vary for now.”

 

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