USDJPY
EURUSD
GBPUSD
GBP/USD: Range-bound trading expected – UOB Group
Key Takeaways (30s Read)
GBP/USD is expected to trade within a range of 1.3640 to 1.3710.
According to UOB Group, the GBP/USD pair is expected to trade within a range of 1.3640 to 1.3710 following a recent decline. This range indicates that while downward momentum has eased, the GBP is unlikely to experience further declines. Strategists Quek Ser Leang and Peter Chia suggest that traders should consider positions within this range, focusing on potential support and resistance levels while monitoring market volatility.
AI Analyst
AI Opinion
"The latest forecast for GBP/USD reflects a situation that requires caution from traders. The expectation to trade within a range of 1.3640 to 1.3710 suggests a practical price behavior grounded in technical analysis, considering the current market environment. With volatility seemingly easing, it is advised to avoid taking excessive risks predicting further declines, prompting traders to develop strategies around this range. Such range trading is often influenced by economic indicators and developments from other regions, necessitating vigilant monitoring."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.