GBP/USD: Outlook keeps pointing to further losses – UOB

in the next few weeks, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We highlighted yesterday that ‘the price actions appear to be consolidative’ and we expected GBP to consolidate in a range of 1.2320/1.2390. In line with our expectations, GBP consolidated, albeit in a narrower range than expected , The quiet price actions offer no fresh clues and we continue to expect GBP to consolidate, likely between 1.2325 and 1.2385.

Next 1-3 weeks: “Our update from last Friday still stands. As highlighted, the 2-week weakness in GBP is intact but it remains to be seen if 1.2175 will come into view this time around. On a shorter-term note, it is worth noting that both 1.2300 and 1.2250 are strong support levels. On the upside, a breach of 1.2415 would suggest the GBP weakness has stabilized.”Information on these pages contains forward-looking statements that involve risks and uncertainties.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GBP/USD keeps the bearish outlook unchanged – UOBIn the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, the negative view around GBP/USD remains intact for the time b
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/THB: Still room for extra gains near term – UOBMarkets Strategist Quek Ser Leang at UOB Group notes that further upside lies ahead for USD/THB. Key Quotes “Last Monday (22 May, spot at 34.40), we h
Source: FXStreetNews - 🏆 14. / 72 Read more »

Trading Support and Resistance \u2013 GBP/USDThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Source: Daily_Forex - 🏆 567. / 51 Read more »

GBP/USD: Weekly Forecast 28th May - 3rd JuneSupport levels have continued to prove vulnerable in the GBPUSD as nervous trading conditions highlight Forex-
Source: Daily_Forex - 🏆 567. / 51 Read more »