Sterling<\/a> (GBP) to grow towards the next major resistance at 1.2900, UOB Group FX analysts Quek Ser Leang and Peter Chia note.<\/p>\nThe next level to watch is at 1.2900<\/h2>\n
24-HOUR VIEW: \u201cOur expectation for GBP to trade in a sideways range of 1.2770\/1.2820 yesterday was incorrect. Instead of trading sideways, GBP rose sharply to a high of 1.2849. Upward momentum is building, and today GBP broke above 1.2860, so the next major resistance is at 1.2900. To maintain the momentum buildup, GBP must not break below 1.2805, with minor support at 1.2825.\u201d<\/p>\n
1-3 WEEKS VIEW: \u201cOn Monday (08 Jul, spot at 1.2805), we indicated that \u2018the risk for GBP remains on the upside, and the level to watch is 1.2860.\u2019 We added, \u2018if GBP breaks below 1.2750, it would mean that the upside risk from last Thursday has faded.\u2019 Yesterday, GBP rose and closed at a 4-month high of 1.2849 (+0.48%). The price action continues to suggest upside risk. The next level to monitor is 1.2900. On the downside, the \u2018strong support\u2019 level has moved higher to 1.2775 from 1.2750.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Price action continues to suggest upside risk, so there\u2019s room for the Pound Sterling (GBP) to grow towards the next major resistance at 1.2900, UOB Group FX analysts Quek Ser Leang and Peter Chia note. The next level to watch is at 1.2900 24-HOUR VIEW: \u201cOur expectation for GBP to trade in a sideways range […]<\/p>\n","protected":false},"author":2,"featured_media":5474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,641,255,250,252,247,253,249,308,256,254],"class_list":["post-342039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gbpusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=342039"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342039\/revisions"}],"predecessor-version":[{"id":342043,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342039\/revisions\/342043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5474"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=342039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=342039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=342039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}