In the opinion of forex strategists at UOB Group, the GBP/USD it remains focused on a possible break of the 1.4080 zone.
Featured statements
24-hour perspective: “We highlighted yesterday that the pound could fall below 1.4080, but the next support at 1.4050 is not expected to enter the scene. In line with our expectations, the UK currency fell to 1.4069 before rebounding to end the day on little change. at 1.4105 (-0.06%). The downward pressure has eased and the pound is unlikely to weaken further. At the moment, the GBP is more likely to consolidate and trade between 1.4080 and 1.4140“.
Next 1-3 weeks: “Our update from yesterday (June 14, even at 1.4115) still stands. As noted, the Short term momentum has improved but the pound has to close below 1.4080 before a move to 1.4050 can be expected. At this stage, the prospect of the pound closing below 1.4080 is not high, but would rise as long as it does not move above 1.4185 (‘strong resistance level’ these few days.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
