GBP/USD: No changes to the range bound theme – UOB

Market news

28 June 2023

GBP/USD: No changes to the range bound theme – UOB

GBP/USD is still expected to navigate within the 1.2650-1.2850 for the time being, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: Yesterday, we expected GBP to trade in a range between 1.2685 and 1.2750. The price actions offer no fresh clues and today, we expect GBP to trade in a range between 1.2700 and 1.2770.

Next 1-3 weeks: Our most recent narrative from last Thursday (22 Jun, spot at 1.2770) still stands. As highlighted, GBP is likely to trade between 1.2650 and 1.2850 for now.

Currencies. Daily history for Wednesday, June 28, 2023

Commodities. Daily history for Tuesday, June 27, 2023

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