The sterling pound (GBP) is expected to be negotiated in a range between 1,3220 and 1,3320. In the long term, the probability that the GBP clearly breaks below 1,3140 has decreased considerablythe FX analysts of UOB Group, quek be Leang and Peter Chia point out.
The probability that the pound clearly breaks below 1,3140 has decreased
24 -hour vision: “In New York trade last Friday, the GBP jumped to a maximum of 1,3309 before settling in 1,3278, an increase of 0.56%. Despite the strong progress, the bullish impulse has not increased significantly. Today, we hope that the GBP is negotiated in a range, most likely between 1,3220 and 1,3320.”
Vision at 1-3 weeks: “Our previous update was last Thursday (July 31, quotation in 1,3250), in which we affirm that ‘the strong downward impulse continues to suggest weakness in the GBP, and the next level to monitor is the minimum of May 1,3140.’ On Friday, the Libra fell to a few pips of 1,3140 (minimum of 1,3143) before strongly bouncing a maximum of 1,3309. I would indicate that the weakness of the pound since the beginning of last week has stabilized. “
Source: Fx Street
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