GBP/USD is now seen trading within the range of 1.1330-1.1635 on the short-term horizon, UOB Group economist Lee Sue Ann and market strategist Quek Ser Leang suggest.
Featured Comments
24 hour view: “Our expectation that GBP/USD would continue to slide yesterday was wrong as it rallied to 1.1566 and tumbled to 1.1437 before bouncing to close at 1.1485 (+0.16%). Sharp but short-lived swings have resulted in to a mixed picture. GBP/USD could continue to trade choppy, likely between 1.1430 and 1.1550.”
Next 1-3 weeks: “We continue to hold the same view as yesterday (Nov 1, GBP/USD at 1.1470), in which GBP/USD appears to have entered a consolidation phase and is likely to trade between 1.1330 and 1.1635 for now. “
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.