GBP/USD Sharp Drop May Have Reached Its Limit Says UOB Group
According to analysts from UOB Group, the Pound Sterling (GBP) is currently expected to fluctuate within a range of 1.2510 to 1.2610. Analysts indicate that any further decline in GBP/USD appears challenging. They suggest that the drop has likely overextended itself and that breaking below the 1.2475 level will be formidable. The market sentiment shows a slowing downward trajectory, offering a cautious outlook for traders. Understanding these dynamics will help traders make informed decisions and potentially benefit from possible reversals.
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