GBP/USD still faces a mixed outlook – UOB

In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, the outlook for GBP/USD remains mixed for the time being. Key Quotes 24-  |  24/06/2022 06:42

In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, the outlook for GBP/USD remains mixed for the time being.

Key Quotes

24-hour view: “We highlighted yesterday that ‘the sharp swings have resulted in a mixed outlook and further choppy price actions are not ruled out’ and we expected GBP to ‘trade within a range of 1.2200/1.2310’. Our view for choppy trading was not wrong as GBP plunged to 1.2171, snapped up to 1.2294 before dropping back down to end the day little changed at 1.2262 (-0.03%). The outlook remains mixed and GBP could continue to trade in a choppy manner. Expected range for today, 1.2190/1.2305.”

Next 1-3 weeks: “We have held the same view since Monday (20 Jun, spot 1.2225) where the outlook is mixed and GBP could continue to trade in a choppy manner, likely between 1.2040 and 1.2400. Our view was not wrong as GBP traded in a choppy manner the last few days. The price actions offer no fresh clues and the outlook remains mixed. Only a break out of the expected range of 1.2130/1.2380 (narrowed from 1.2040/1.2400) would suggest a directional move is likely.”

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com