The Pound Sterling (GBP) could weaken; any decline is not expected to reach the major support at 1.2310. For the time being, GBP is likely to trade in a 1.2310/1.2550 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBP is not expected to reach the major support at 1.2310
24-HOUR VIEW: "We indicated last Friday that the outlook for GBP 'is mixed'. We were of the view that it could trade in a choppy manner, likely between 1.2390 and 1.2500.' In NY trade, GBP popped to a high of 1.2490 and then plummeted to 1.2377. There has been a tentative buildup in momentum, but while GBP could weaken today, any decline is not expected to reach the major support at 1.2310 (minor support is at 1.2350). Resistance is at 1.2435; a breach of 1.2465 would indicate that GBP is not weakening further."
1-3 WEEKS VIEW: "Last Friday (09 Feb, spot at 1.2440), we indicated that 'for the time being, GBP is likely to trade in a 1.2310/1.2550 range.' There is no change in our view."
Related Articles
What is BNB? Can CZ's Return to Binance Propel It to $2700?
It’s also worth noting that 2028 marks Bitcoin’s fifth halving — a historically bullish catalyst. If past cycles repeat, BNB could ride the wave to new highs. Considering macroeconomic trends, supply dynamics, CZ’s potential return, and the next bull market, Standard Chartered’s target seems increas
Fed Rate Cut Finally Arrives,Dollar Index: Negative Catalysts Largely Priced In,Euro Rally May Be Running Out of Steam
Tradingkey - The Federal Reserve lowered the target range for the federal funds rate by 25 basis points to 4.00%–4.25% late yesterday, as widely expected, and signaled two additional rate cuts this year.
Meta Connect 2025: An Inflection Point for AR Wearables?
TradingKey - Meta Connect 2025 kicks off this Wednesday, and expectations couldn’t be higher.
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
ASML Q2 FY2025 Earnings Review: Strong Growth and High-NA EUV Breakthrough Shadowed by 2026 Uncertainty
ASML Holding N.V. (NASDAQ: ASML) released its Q2 FY2025 earnings on July 16, 2025, exceeding market expectations with robust net sales and net bookings, though the stock fell around 10% due to cautious guidance for 2026 amid geopolitical uncertainties.
