GBP/USD is still expected to navigate within the 1.2650-1.2850 for the time being, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

Key Quotes

24-hour view: Yesterday, we expected GBP to trade in a range between 1.2685 and 1.2750. The price actions offer no fresh clues and today, we expect GBP to trade in a range between 1.2700 and 1.2770. 

Next 1-3 weeks: Our most recent narrative from last Thursday (22 Jun, spot at 1.2770) still stands. As highlighted, GBP is likely to trade between 1.2650 and 1.2850 for now.