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GBP/USD likely to trade between 1.2900 and 1.3200 – UOB

FX Strategists at UOB Group expect Cable to remain sidelined in the 1.2900-1.3200 range in the near-term.

Key Quotes

24-hour view: “GBP traded between 1.3041 and 1.3104 before settling on a soft note at 1.3054 (-0.12%). The soft underlying tone suggests GBP could drift lower to 1.3025. The next support at 1.2990 is unlikely to come into the picture. Resistance is at 1.3085 followed by 1.3110.”

Next 1-3 weeks: “GBP popped to a high of 1.3120 last Friday (24 Jan) before dropping back quickly. The recent sharp but short-lived price actions have resulted in a mixed outlook. From here, GBP could continue to trade in an erratic manner within a 1.2900/1.3200 range.”

 

EUR/JPY Price Analysis: Rising bets for extra losses to 119.25

The downside in EUR/JPY has picked up extra pace after breaching the key 200-day SMA in the 120.80 region on Friday and the 100-day SMA around 120.30
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US durable goods and consumer confidence data will garner attention on Tuesday – TDS

Analysts at TD Securities (TDS) offered a brief highlight of Tuesday trading action and preview of the upcoming US macro releases – durable goods and
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