FXStreet – The UOB Group analysts expect the Cable with a breakout above the important 1,3000 continue to rise.
“The key resistance of 1.3000 was not threatened and it came up to a sharp Pullback in the GBP from 1,2990. The formation of a short-term High is likely, and the current movement seems to be part of a consolidation. Today is likely to see a sideways trading of the GBP between 1,2910 and 1,2970.”
“Like yesterday already indicated, the basic mood is positive, but the GBP needs a closing price above 1.3000, so that the movement passes into a bullish Phase. While the Chance is not particularly high, is not excluded from this scenario, as long as the strong support of 1,2880 in the next 1 to 2 days.”
** FXStreet News Editorial, FXStreet**