GBP/USD Growth Forecast and Potential Pullback Analysis by UOB Group

Friday, 12 July 2024, 08:25
The Pound Sterling (GBP) is anticipated to continue its overbought advance, with potential to reach 1.2970 according to UOB Group. However, a pullback is expected after hitting this level as per the analysis.
FXStreet
GBP/USD Growth Forecast and Potential Pullback Analysis by UOB Group

GBP/USD Growth Forecast

The Pound Sterling (GBP) shows signs of overbought conditions, with potential to extend to 1.2970 before a likely pullback.

UOB Group Analysis

The latest analysis by UOB Group predicts the growth trajectory of the GBP/USD pair, highlighting the potential level of 1.2970.

However, caution is advised as a pullback is expected after reaching this level, indicating a possible reversal in the trend.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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