GBP/USD neutral bias set to persist – UOB

Cable’s rangebound theme would remain poised to extend further in the next 1-3 weeks, according to the research team at UOB Group.

Key Quotes

“Instead of extending higher, GBP traded mostly sideways yesterday. The current movement is viewed as part of a consolidation phase and further sideway trading is expected for today”.

“Shorter-term volatility appears to have eased off somewhat and from here; we maintain our neutral view on GBP. We continue to expect this pair to trade sideways in the coming days, likely between 1.2960 and 1.3320”.