GBP/USD: GBP to face significant resistance at 1.3300 – UOB Group
Trending Articles- Nearly $2 Billion Wiped Out in Crypto Liquidations Amid Brutal Sell-Off
- Gold Price Forecast: XAU/USD declines below $4,050 on USD strength and hawkish Fed comments
- U.S. September Nonfarm Payrolls: Two-Scenario Analysis, Will U.S. Stocks Diverge in Short-Term and Medium-to-Long-Term Trends?
- Gold Price Forecast: XAU/USD edges higher above $4,100 ahead of delayed US September NFP report
- Whale Dump Meets Quantum Panic: Bitcoin Slips to $86,000 and Blows $220 Million Longs
- 2025 Black Friday is coming! Which stocks may see volatility?
Further Pound Sterling (GBP) GBP strength is not ruled out, but any advance is expected to face significant resistance at 1.3300, UOB Group Quek Ser Leang and Victor Yong note.
GBP to test 1.3300 near term
24-HOUR VIEW: “In NY trade, GBP soared briefly to 1.3298, and then pulled back sharply, closing at 1.3214 (+0.39%). The price movements did not provide any clarity. Today, we expect GBP to trade sideways, likely between 1.3150 and 1.3250.”
1-3 WEEKS VIEW: “Our most recent narrative was from two days ago (17 Sep, spot at 1.3210), wherein the recent increase in momentum “is likely to lead to further GBP strength, potentially breaking above this year’s high, near 1.3270.” While GBP broke above 1.3270 in NY trade, it pulled back sharply from 1.3298. While there has been no further increase in momentum, further GBP strength is not ruled out. However, any advance is expected to face significant resistance at 1.3300. On the downside, should GBP break below 1.3120 (no change in ‘strong support’ level), it would mean the current upward pressure has faded.”
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
