According to the currency strategists at UOB Group, GBP/USD could extend rally above 1.3220 In the next weeks.
Featured Comments
24 hour view: “Our expectations for GBP/USD to ‘test major resistance at 1.3220’ failed to materialize as it moved between 1.3111 and 1.3197. Price action is likely part of a consolidation and GBP/USD is likely to trade lower. sideways today. Expected to be range bound at 1.3115/1.3205.”
Next 1-3 weeks: “Last Thursday (March 17, GBP/USD at 1.3150), we were of the view that the rebound in GBP/USD has room to extend to 1.3220. After GBP/USD rose to a high of 1.3211, we highlighted on Friday that ‘the probability of a sustained rally above 1.3220 has increased’ No change in our view for now Only a break of 1.3070 (no change in ‘strong support’ level from last Friday) would indicate that GBP/USD is not ready to head towards 1.3220.”
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
