GBP/USD: Further range bound trading on the cards – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted yesterday that GBP ‘could retest the 1.1780 level before a more sustained rebound is likely’. However, GBP did not test 1.1780 as it rebounded from 1.1815 . Despite the rebound, upward momentum has not improved much. That said, GBP could edge higher but any further advance is unlikely to break the major resistance at 1.1940. On the downside, a break of 1.1830 would indicate that the current mild upward pressure has eased.
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