GBP/USD remains focused on 1.2900 – UOB – by pabspiovano GBPUSD Currencies Majors Banks
could still set sail to the 1.2900 region in the next few weeks.24-hour view:Our view for GBP to edge above 1.2850 yesterday did not materialize as it traded in a range of 1.2772/1.2836. GBP appear to have entered a consolidation phase and it is likely to trade in a range between 1.2765 and 1.2830.
Next 1-3 weeks: Our most recent narrative was last Friday wherein “GBP strength is intact and the next level to aim for is 1.2900.” We continue to hold the same view. On the downside, a breach of 1.2700 indicates that the GBP strength started more than a week ago has ended. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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