Currency analysts from UOB Group, Quek Ser Leang and Peter Chia, observe ongoing bullish sentiment for the Pound Sterling (GBP), projecting potential growth towards the critical resistance level of 1.2900.
24-Hour View:
Expectations for GBP to trade sideways between 1.2770 and 1.2820 were surpassed as GBP surged to a peak of 1.2849. Momentum remains upward, with GBP breaking above 1.2860, highlighting 1.2900 as the next significant resistance. Sustaining momentum necessitates GBP holding above 1.2805, with minor support at 1.2825.
1-3 Weeks View:
With GBP closing at a four-month high of 1.2849 (+0.48%), analysts affirm a persistent upside risk in price action. Emphasizing the next target at 1.2900, they note that robust support has shifted higher to 1.2775, reflecting continued bullish sentiment barring a decline below 1.2750.
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