GBP/USD: Perspectives for GBP are still positive – Uob Group
The strong impulse seems to be slowing down; The sterling pound (GBP) will probably be negotiated in a range of 1,2850/1,2925 against the US dollar (USD). In the long term, the perspectives for the GBP are still positive; The next technical objective is in 1,2975, the FX analysts of UOB Group, to be Leang and Peter Chia.
24 -hour vision: “After the strong increase of the GBP two days ago, we indicated yesterday that ‘although it is deeply overcompraned, the GBP seems to have enough impulse to continue climbing.’ We point out, ‘The levels to be monitored are 1,2930 and 1,2975.’ However, the GBP rose less than expected to 1,2924. Read more…
GBP/USD Prognosis: The sterling pound remains over overcompra as the focus moves towards the key US data.
After moving laterally on Thursday and in Friday’s Asian session, The GBP/USD recovered its traction and touched a new maximum of several months above 1,2900 in the European morning. The US Employment Report of the US could boost the action of the pair for the weekend.
The atmosphere of risk aversion helped the US dollar (USD) to limit their losses and hindered that the GBP/USD extend its upward trend on Thursday. In Friday, the futures of the stock market indices of the US are quoted in positive territory and the USD index, which tracks the valuation of the USD in front of a basket of six main currencies, remains red below 104.00, which allows the GBP/USD to climb more. Read more…
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.
