GBP/USD: 1.2800 is expected to provide support – UOB Group
Scope for GBP to drop to 1.2835; given the oversold conditions, the major support at 1.2800 is unlikely to come under threat. In the longer run, slight buildup in momentum indicates GBP is likely to edge lower; the 1.2800 level is expected to provide significant support, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
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