GBP/USD: A test of 1.2330 emerges on the horizon – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “Yesterday, we highlighted that ‘the price actions appear to be consolidative’ and we expected GBP to ‘trade sideways within a range of 1.2100/1.2200’. Our view for sideways trading turned out to be correct as GBP traded between 1.2102 and 1.2176 before closing little changed at 1.2151 . While GBP may continue to trade sideways today, a breach of the 1.2200 resistance could potentially lead to a sharp rise to 1.2270. Support is at 1.2100, followed by a strong level at 1.2050.
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