The Pound Sterling (GBP) is expected to trade in a 1.3325/1.3410 range. In the longer run, current price movements are likely part of a range trading phase between 1.3300 and 1.3430, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.

Trading sideways for the time being

24-HOUR VIEW: “Yesterday, GBP traded between 1.3350 and 1.3423, close to our expected range of 1.3340/1.3420. Momentum indicators are mostly neutral, and further range trading appears likely. Expected range for today: 1.3325/1.3410.