GBP/USD range trade prevails near-term – UOB

Analysts at UOB Group expect GBP/USD to remain in a consolidative theme in the next 1-3 weeks.

Key Quotes

“We have held a neutral view for more than 3 weeks and since then; both rally and dip in GBP have been unsustainable and short-lived”.

“As indicated yesterday, a move below 1.4105 would indicate that GBP has moved back into a consolidation range (recent high of 1.4348 did not reach our rebound target of 1.4380)”.

“In other words, there is no change in our neutral view and we expect this pair to trade in a broad 1.4000/1.4350 range for now”.