GBP/USD no change to the neutral stance – UOB

According to FX Strategists at UOB Group, Cable should stay in a consolidate=ive range between 1.2350 and 1.2670 in the near term.

Key Quotes

“There is not much to add as GBP traded in a relatively narrow 1.2475/1.2550 range yesterday”.

“The recent choppy swings have resulted in a mixed outlook and the near-term direction is unclear. We turned neutral about one week ago and at this stage, there are no early indications that GBP is about to embark on a sustained directional move”.

“In other words, we continue to hold a neutral view and expect choppy consolidation within a 1.2350/1.2670 range”.