GBP/USD Still in Consolidative Range – UOB
The research team at UOB Group expects the pair to extend its rangebound pattern in the next weeks.
Key Quotes
“Instead of extending its recent weakness, GBP rebounded strongly from a low of 1.4192. The recent downward pressure has clearly eased and the current movement is likely the start of a consolidation phase”.
“There is no change to the view wherein we consider the current movement in GBP as part of a consolidation phase. Expected range, 1.4050/1.4450”.
(Market News Provided by FXstreet)
