The GBP / USD is now seen moving in the range of 1.3730-1.3885 in the coming weeks, as suggested by currency strategists at UOB Group.
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24 hour view: “Our take on a weaker GBP / USD yesterday was incorrect as it rose to 1.3852 before settling on a firm tone at 1.3843 (+ 0.25%). Despite the advance, the upside momentum has not improved much. That being said , there is room for GBP / USD to advance further, but a breakout of the major resistance at 1.3885 is unlikely (next resistance is at 1.3910). On the downside, a breakout of 1.3810 would indicate that the current soft upward pressure is on. has relieved. “
Next 1-3 weeks: “There is not much to add to our update yesterday (September 15, GBP / USD at 1.3810). As highlighted, the current move is considered part of a consolidation phase and GBP / USD could move between 1.3730 and 1.3885 for a period of time. “
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