Libra sterling (GBP) could rise more; The overcompra conditions suggest that a sustained breakup above 1,2530 is unlikely. In the long term, for the moment, the GBP is expected to be negotiated in a range of 1,2245/1,2530, the FX analysts of UOB Group, to be Leang and Peter Chia.
The GBP is expected to be negotiated in a range of 1,2245/1,2530
24 -hour view: “Although we indicate yesterday that” the rapid increase in GBP has margin to extend, “we highlight that” any advance is unlikely that it breaks clearly above 1,2475. “We add,” the main resistance is not expected to be expected 1,2530 is threatened. “Our vision that the GBP would advance was not incorrect, although it rose more than expected to 1.2492. Today, the GBP could rise more, but given the overcompra conditions, a rupture sustained above 1,2530 seems little Probable.
View of 1-3 weeks: “We highlight yesterday (February 4, spot in 1,2430) that” for the moment, we hope that the GBP is negotiated in a range of 1,2245/1,2530. “Subsequently, the GBP rose to 1,2492, and although although The impulse is beginning to accumulate, it is not enough to suggest sustained advance.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
