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Sep 24 - 01:24 PM
GBP/USD: A Short-Term Likely In Place; Sideways N-Term - UOB
First appeared on eFXplus on Sep 24 - 11:40 AM

UOB Research discusses GBP/USD technical outlook and expects a sideways trading in the near-term.

"Short-term top in place, GBP is likely to trade sideways to slightly lower for now. Last Friday (20 Sep) high of 1.2582 is deemed as a short-term top. While GBP is expected to trade below the short-term top for the next 1 to 2 weeks, any weakness is viewed as part of consolidation phase and it is too soon to expect a significant pull-back," UOB notes. 

"To look at it another way, GBP is expected to trade sideways to slightly lower for now, expected to be within a 1.2300/1.2520 range," UOB adds. 

Source:
UOB Research/Market Commentary

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