Likely to trade in a 1.3140/1.3405 range – UOB Group

By: bitcoin ethereum news|2025/05/14 18:15:05
0
Share
copy
Pound Sterling (GBP) could continue to rebound against US Dollar (USD), but any advance is likely limited to a test of 1.3340. In the longer run, buildup in momentum has faded; GBP is likely to trade in a 1.3140/1.3405 range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Buildup in momentum has faded 24-HOUR VIEW: “GBP dropped to 1.3140 on Monday. Yesterday, Tuesday, when GBP was at 1.3180, we indicated that it ‘could retest 1.3140 before a more sustained recovery can be expected.’ However, GBP did not retest 1.3140. Instead, it rebounded directly to 1.3316, closing on a firm note at 1.3304, up by 0.96%. Today, GBP could continue to rebound, but as conditions are approaching overbought, any further advance is likely limited to a test of 1.3340. The major resistance at 1.3405 is not expected to come into view. Support is at 1.3275; a breach of 1.3245 would indicate that the current upward pressure has eased.” 1-3 WEEKS VIEW: “We turned negative in GBP last Friday (09 May, spot at 1.3240), but we indicated that ‘it is unclear whether GBP can break clearly below 1.3150.’ After GBP dropped to 1.3140, we highlighted yesterday (13 May, spot at 1.3180) that GBP ‘is expected to weaken, but the major support at 1.3070 may not come into view so soon.’ We did not anticipate the subsequent sharp rebound to 1.3316. The breach of our ‘strong resistance’ level at 1.3275 indicated that the buildup in momentum has faded. The current price movements are likely part of a 1.3140/1.3405 range trading phase.” Source: https://www.fxstreet.com/news/gbp-usd-likely-to-trade-in-a-13140-13405-range-uob-group-202505140912

You may also like

Tiger Research: What AI services do cryptocurrency companies offer?

Cryptocurrency giants like Binance and Coinbase have fully launched an AI defense battle: Driven by FOMO sentiment, leading platforms are accelerating the deep integration of AI agents into core businesses such as trading, security, and payments.

The war not only drives up oil prices but also causes Circle's stock price to soar

High interest rate expectations combined with the explosive growth of stablecoin infrastructure have led to Circle's stock price doubling in five weeks against the trend: Understanding the dual game of "macro interest rate trading" and "global payment foundation" behind the surge in one article.

When agents become consumers, who will rewrite the underlying logic of internet commerce?

Thirty years ago, due to the high cost of micropayments, the internet had no choice but to adopt an advertising model. Today, the technical threshold for micropayments is nearly zero, but trust has become the most expensive luxury. Whoever can bridge this gap will dominate the next generation of int...

AI Agents in Action Summit: March 31, Hong Kong Cyberport, focusing on the deep waters of AI implementation

Tomorrow, Hong Kong Cyberport will grandly open. The "AI Agents in Action" summit gathers top experts, directly addressing the real evolution of AI Agents from conceptual celebration to productization and large-scale commercial implementation.

29 Days In, What Are America’s Options on Iran?

The key is not in ground invasion but in the combination of striking capability and governance.

Flash Crash Down 97%+ with Ongoing Unlocking, WLD Completes $65 Million Off-chain Funding: Who Is Still Buying?

In the current deep bear market environment, being able to complete multi-million dollar token trades is quite rare.

Popular coins

Latest Crypto News

Read more