Impulse indicators are stabilizing; The GBP is likely to consolidate in a range between 1,3700 and 1,3780. In the long term, there are early signs of deceleration of the impulse; The GBP must break and stay above 1,3800 or the probability of a greater strength will decrease, the FX analysts of the UOB Group, to be Leang and Peter Chia.
Early signs of deceleration of the impulse
24 -hour vision: “Yesterday, we expected the GBP ‘to rise slightly and try the level of 1,3770.’ We indicate that ‘except an increase in impulse, the main resistance in 1,3800 is probably out of reach.’ Although the GBP rose more than expected, it backed away from 1,3787 to close to a large extent
without changes in 1,3742 (+0.09%). Impulse indicators are stabilized. Today, instead of waiting for a higher GBP, we hope that it will be consolidated in a range between 1,3700 and 1,3780. “
Vision at 1-3 weeks: “We became positive about the GBP last Thursday. On Friday, we highlight that ‘the perspectives for the GBP are still positive, but can be consolidated for a couple of days first; the next technical objective is 1,3800.’ Yesterday, the GBP reached a maximum of 1,3787 and then retreated. I would indicate that the GBP has entered a negotiation phase in the range. “
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.
