Cable’s potential advance to the 1.2580 region in the short-term horizon seems to be losing momentum for the time being, suggested FX Strategists at UOB Group.Key Quotes24-hour view: “We highlighted last Friday “momentum has eased considerably and GBP has likely moved into a consolidation/correction phase”. We added, GBP ‘is likely to trade sideways within a 1.2425/1.2505 range’. GBP subsequently traded within a narrower range than expected (between 1.2440 and 1.2495) before settling at 1.24
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now