GBP/USD to move towards the 1.33 level – OCBC

The GBP/USD pair extends its sideways consolidative price action and remains confined in a range around mid-1.3200s. Terence Wu, an FX strategist at OCBC Bank, expects the next target for the GBP/USD at 1.3300.

Key quotes

“Brexit talks have restarted, but still with little prospect of a significant breakthrough. However, that did little to impede the GBP/USD, as a weak USD floats all boats.” 

“Having breached the 1.3140 resistance, expect the buoyant posture to persist.” 

“1.3300 should implicitly attract, with support near 1.3180/00.”