The GBP/USD pair extends its sideways consolidative price action and remains confined in a range around mid-1.3200s. Terence Wu, an FX strategist at
OCBC Bank, expects the next target for the GBP/USD at 1.3300.
Key quotes
“Brexit talks have restarted, but still with little prospect of a significant breakthrough. However, that did little to impede the GBP/USD, as a weak USD floats all boats.”
“Having breached the 1.3140 resistance, expect the buoyant posture to persist.”
“1.3300 should implicitly attract, with support near 1.3180/00.”
| S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
| 1.2990 |
1.3044 |
1.3142 |
1.3293 |
1.3347 |
1.3445 |
| Trend Index |
OB/OS Index |
| StronglyBullish |
Overbought |
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