GBP/USD still seen within 1.3450-1.3645 – UOB

GBP/USD is expected to keep trading between 1.3450 and 1.3645 in the next weeks, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “Our expectations for GBP to ‘trade sideways between 1.3530 and 1.3610’ yesterday were incorrect as it dropped to 1.3495 before rebounding to close at 1.3532 (-0.21%). Despite the decline, downward momentum has barely improved and GBP is unlikely to weaken much further. For today, GBP is more likely to trade between 1.3490 and 1.3570.”

Next 1-3 weeks: “Our view from last Friday (11 Feb, spot at 1.3550) still stands. As highlighted, GBP is likely trade between 1.3450 and 1.3645 for now.”