GBP/USD back to rangebound – UOB

Analysts at UOB Group now expect GBP/USD to trade in a consolidative fashion after failing to clinch 1.4380.

Key Quotes

“The pull-back from the 1.4348 high 2 days ago has been more rapid than expected and the odds for our expectation for a stronger rebound to 1.4380 have diminished”. 

“From here, a move below 1.4105 would indicate that GBP has moved into a consolidation range, likely between 1.4050 and 1.4350”.