GBP/USD now faces some consolidation – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “Yesterday, we expected GBP to ‘trade within a range of 1.2130/1.2290’. Our expectation for range trading was not wrong even though GBP traded within a narrower range than expected . GBP closed on a soft note at 1.2135 and downward momentum is beginning to build, albeit tentatively. As long as GBP does not move above 1.2200 , it is likely to trade with a downward bias today. That said, any decline is expected to encounter solid support at 1.2060.
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