According to UOB Group FX analysts Quek Ser Leang and Lee Sue Ann, the Pound Sterling (GBP) is expected to trade in a range, with potential levels between 1.2815 and 1.2870.
GBP Outlook for the Next 24 Hours
Based on the latest analysis, GBP is projected to trade within a range of 1.2815 to 1.2870. Yesterday’s trading saw GBP between 1.2821 and 1.2866, closing at 1.2837 (-0.18%). The trend suggests further range trading in the near term.
GBP Forecast for the Next 1-3 Weeks
Looking ahead, the outlook for GBP in the next 1-3 weeks shows a potential downward bias towards 1.2780. Unless the strong resistance level of 1.2895 is breached, GBP is expected to continue its downward momentum.
Analysis and Breakdown
For those looking to understand the implications of this forecast, it suggests that the Pound Sterling is likely to face pressure in the coming weeks, potentially leading to a decrease in its value. This information can be valuable for investors, traders, and individuals who deal with foreign exchange transactions involving GBP. Keeping an eye on the key levels mentioned can help in making informed decisions regarding GBP investments and trades.