Further gains still likely in GBP/USD – UOB By pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted yesterday that ‘while GBP could strengthen’, we noted ‘overbought conditions suggest a slower pace of advance and a sustained rise above 1.3740 appears unlikely’. Our view was correct as GBP rose to 1.3749 before easing off. Upward momentum is beginning to ease and this coupled with still overbought conditions suggest that GBP is likely to consolidate for today, expected to be within a range of 1.3680/1.3740.
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