GBP/USD could still slip back towards the 1.2720 region in the near term, according to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.
GBP/USD could still slip back towards the 1.2720 region in the near term, according to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.
Key Quotes
24-hour view: We expected GBP to trade sideways in a range of 1.2795/1.2865 yesterday. Our view was incorrect, as GBP dropped to a low of 1.2742 before rebounding quickly. Downward pressure has eased with the rapid rebound, and the 1.2742 low could be a bottom for now. That said, it is too early to expect a major reversal. Today, GBP is likely to trade in a range, probably between 1.2755 and 1.2850.
Next 1-3 weeks: Our most recent update was from last Friday (28 Jul, spot at 1.2800). In our update, we noted that “while downward momentum is building again, it remains to be seen if GBP can break the major support at 1.2720.” Yesterday, GBP dropped to 1.2742 before rebounding quickly. While there is no clear increase in momentum, there is still a chance for GBP to drop to 1.2720. All in all, we expect GBP to trade with a downward bias as long as it stays below 1.2880 (‘strong resistance’ level previously at 1.2900).
24-hour view: We expected GBP to trade sideways in a range of 1.2795/1.2865 yesterday. Our view was incorrect, as GBP dropped to a low of 1.2742 before rebounding quickly. Downward pressure has eased with the rapid rebound, and the 1.2742 low could be a bottom for now. That said, it is too early to expect a major reversal. Today, GBP is likely to trade in a range, probably between 1.2755 and 1.2850.
Next 1-3 weeks: Our most recent update was from last Friday (28 Jul, spot at 1.2800). In our update, we noted that “while downward momentum is building again, it remains to be seen if GBP can break the major support at 1.2720.” Yesterday, GBP dropped to 1.2742 before rebounding quickly. While there is no clear increase in momentum, there is still a chance for GBP to drop to 1.2720. All in all, we expect GBP to trade with a downward bias as long as it stays below 1.2880 (‘strong resistance’ level previously at 1.2900).
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.