Now it is expected that the GBP / USD consolidates within the 1.4100-1.4205 range in the coming weeks, say UOB Group currency strategists.
Key Comments:
24 hour view: GBP / USD fell to 1.4122 yesterday before recovering rapidly and subsequently moved sideways. Momentum indicators are neutral and GBP / USD is likely to trade between 1.4120 and 1.4185 for today. “
Next 1-3 weeks: “The relatively choppy price action at the end of last week was followed by a rapid decline in volatility, as GBP / USD moved in a subdued fashion over the past few days. The outlook is not clear and GBP / USD is likely to trade between 1.4100 and 1.4205 for now. “
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