GBP/USD neutral stance intact – UOB

Cable’s outlook remains neutral in the short term, likely to meander between1.2830 and 1.3000, according to FX Strategists at UOB Group.

Key Quotes

“The neutral phase that started about 2 weeks ago is still intact as GBP continues to trade sideways”.

“At this stage, there is no early indication that GBP is ready to move out of the expected 1.2830/1.3000 consolidation range”.

“Looking further ahead, there is a slight bias for a possible upside ‘break’ but on the minimum, this pair has to close above 1.2960 to warrant a more positive outlook”.