GBP/USD now moved into a consolidative phase – UOB

[ad_1] Share: Economist Lee Sue Ann and Markets Strategist Quek Ser at UOB Group suggest GBP/USD is now seen trading within the 1.2085-1.2240 band in the next weeks. Key Quotes 24-hour view: We expected GBP to trade in a range of 1.2085/1.2155 yesterday. GBP dipped to a low of 1.2090 before staging a surprising

Bulls moved in, reaches two-day high as a bullish-engulfing pattern looms

[ad_1] Share: Bullish-engulfing candlestick pattern on the daily chart suggests buyers are in control. The first major resistance at 1.3600, followed by several key levels up to 1.3804. Downside risks include a drop below 1.3489, potentially targeting the 200-DMA at 1.3462 and the 50-DMA at 1.3345. The Canadian Dollar (CAD) losses ground against