Present GBP/USD worth actions nonetheless look like a part of a spread buying and selling part, possible between 1.3400 and 1.3600, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
Present worth actions nonetheless are part of a ranged motion
24-HOUR VIEW: “Final Friday, when GBP was at 1.3500, we famous that there was ‘a slight improve in upward momentum.’ Nonetheless, we identified that it ‘is just not sufficient to counsel a sustained rise.’ We highlighted that GBP ‘is extra more likely to commerce in a spread of 1.3455/1.3530.’ GBP subsequently traded between 1.3449 and 1.3510, closing at 1.3453 (-0.27%). Flat momentum indicators counsel additional vary buying and selling in the present day, more than likely between 1.3435 and 1.3505.”
1-3 WEEKS VIEW: “We proceed to carry the identical view as final Friday (30 Could, spot at 1.3500). As highlighted, ‘the present worth actions nonetheless look like a part of a spread buying and selling part, albeit a better one, between 1.3400 and 1.3600.”
