The pound remains poised to extend its lateralized trading between 1.3800 and 1.4000 in the coming weeks, according to analysts at UOB Group.
24 hour perspective: “Yesterday we expected the GBP to trade sideways within a range of 1.3870 / 1.3940. Subsequently, the British pound moved between 1.3859 and 1.3942 before settling at 1.3891 (-0.14%). Rapid swings have led to mixed outlooks . For today, the British pound could continue to trade irregularly, probably between 1.3840 and 1.3950“.
Next 1-3 weeks: “Not much to add to our update on Tuesday (May 4, even at 1.3905). As highlighted, recent rapid changes have resulted in a mixed perspective and GBP is likely to trade between 1.3800 and 1.4000 for now”.
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