The likelihood of further weakness in GBP/USD now appears mitigated according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Key Quotes
24-hour view: GBP traded between 1.2714 and 1.2789 yesterday, narrower than our expected range of 1.2700/1.2800. The underlying tone has improved somewhat, and GBP is likely to edge higher. In view of the mild upward pressure, any advance is unlikely to threaten the major resistance at 1.2830 (minor resistance is at 1.2800). Support is at 1.2755, followed by 1.2725.
Next 1-3 weeks: We have held a negative GBP view for more than a week now (see annotations in the chart below). In our latest narrative from last Friday (04 Aug, spot at 1.2715), we noted that “downward momentum has eased somewhat.” However, we indicated that “there is a chance for GBP to drop further to 1.2580.” Downward momentum has eased further, and the chance for GBP to drop to 1.2580 has diminished. However, only a breach of 1.2830 (no change in ‘strong resistance’ level) would indicate that the GBP weakness has stabilised
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
暂无评论。 来发表第一条观点吧。