There seems to be enough impulse for the pound sterling (GBP) against the US dollar (USD) to rise more, but any progress is probably part of a higher range of 1,2480/1,2600. In the long term, a strong increase in impulse will probably lead to a greater strength of the GBP; The levels to be monitored are 1,2600 and 1,2655, the FX analysts of the UOB group, quek being Leang and Peter Chia point.
The increase in impulse will probably lead to a greater strength of the GBP
24 -hour view: “After the price movements of Wednesday, yesterday (Thursday) we noticed that ‘there has been no increase in impulse or downward or upward.’ We expected the GBP ‘to quote in a range between 1,2390 and 1,2490.’ Instead of quoting in a range, the GBP shot and closed with a strong note in 1,2569 (+0.99%). Although there seems to be enough impulse for the GBP to rise more today, the deep overcompra conditions suggest that any progress is probably Part of a higher range of 1,2480/1,2600.
View of 1-3 weeks: “A week ago (February 9, Spot in 1,2440), we indicate that ‘at the moment, it is likely that the GBP Cotice in a range of 1,2310/1,2550.’ After contributing in a range for several days, the GBP shot and broke over 1,2550 yesterday, reaching a maximum of 1,2569 Watching are 1,2600 and 1,2655.
Source: Fx Street
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