The sterling pound (GBP) is expected to be negotiated in a lateral range of 1,2885/1,2945 against the US dollar (USD). In the long term, current price movements are probably part of a negotiation phase in the range, which is expected to be between 1,2850 and 1,3050, the FX analysts of the UOB Group, quek being Leang and Peter Chia.
Current price movements are probably part of a negotiation phase in range
24 hours View: “Yesterday we point out that the GBP ‘is under slight downward pressure.’ We expected the GBP to fall slightly, but we considered that ‘any descent would probably be limited to a 1,2880 test.’ Our opinion turned out to be correct, since the GBP fell to a minimum of 1,2880 and then bounced to close the day little changed in 1,2923 (+0.04%).
1-3 weeks View: “Our most recent narrative was last Friday (March 28, Spot in 1,2950), where ‘current price movements are probably part of a negotiation phase in the range, which is expected to be between 1,2850 and 1,3050.’ There are no changes in our opinion. “
Source: Fx Street
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