GBP/USD neutral, within 1.2800/1.3010 – UOB

FX Strategists at UOB Group stay neutral on Cable, expecting to remain sidelined between 1.2800 and 1.3010 in the next weeks.

Key Quotes

“GBP registered a range of 1.2846/1.2914 last Friday, relatively close to our expected 1.2840/1.2920 consolidation range. Short-term outlook remains unclear and further sideway trading is expected, likely within a slightly lower range of 1.2830/1.2910”.

“GBP closed largely unchanged last Friday and there is no change to our current neutral stance. The current movement is viewed as the early stages of a consolidation phase and this pair is expected to trade between 1.2800 and 1.3010 for now”.