GBP/USD: Upside momentum seems to be losing traction – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted last Friday that ‘while upward momentum has waned, there is room for GBP to test 1.2450 first before the risk of a more sustained pullback increases’. However, GBP did not test 1.2450 as it traded between 1.2346 and 1.2419 before closing modestly lower at 1.2400 . The price actions appear to be part of a consolidation phase and GBP is likely to trade sideways today, expected to be between 1.2350 and 1.2425.
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