GBP/USD still in consolidative range – UOB

The research team at UOB Group expects the pair to extend its rangebound pattern in the next weeks.

Key Quotes

“Instead of extending its recent weakness, GBPrebounded strongly from a low of 1.4192. The recent downward pressure has clearly eased and the current movement is likely the start of a consolidation phase”.

“There is no change to the view wherein we consider the current movement in GBP as part of a consolidation phase. Expected range, 1.4050/1.4450”.