Advertisements

GBP Strengthens, Eyes Next Resistance Amid Upside Momentum

by Elena

Currency analysts from UOB Group, Quek Ser Leang and Peter Chia, observe ongoing bullish sentiment for the Pound Sterling (GBP), projecting potential growth towards the critical resistance level of 1.2900.

24-Hour View:

Expectations for GBP to trade sideways between 1.2770 and 1.2820 were surpassed as GBP surged to a peak of 1.2849. Momentum remains upward, with GBP breaking above 1.2860, highlighting 1.2900 as the next significant resistance. Sustaining momentum necessitates GBP holding above 1.2805, with minor support at 1.2825.

Advertisements

1-3 Weeks View:

With GBP closing at a four-month high of 1.2849 (+0.48%), analysts affirm a persistent upside risk in price action. Emphasizing the next target at 1.2900, they note that robust support has shifted higher to 1.2775, reflecting continued bullish sentiment barring a decline below 1.2750.

Advertisements

Related Topics:

Advertisements
Advertisements

You may also like

blank

MydayFinance (www.mydayfinance.com) is a comprehensive foreign exchange industry website, providing global users with 24-hour comprehensive and timely foreign exchange market information, foreign exchange rate real-time query, foreign exchange rate conversion and other content.【Contact us: [email protected]

© 2024 Copyright  mydayfinance.com