The research team at UOB Group expects the pair to remain rangebound in the next weeks. Key Quotes “As pointed out yesterday, despite the generally positive outlook, a sustained move above 1.4575 is unlikely. However, the rapid and sharp down-move from the high of 1.4563 is likely part of a broader consolidation phase and not the start of deeper down-move”. “Sideway trading is likely for today and yesterday’s range of 1.4383/1.4563 should contained today’s movement”. “There is not much to add as GBP continues to trade choppily within a confined range. We remain neutral and expect this pair to trade in a broad 1.4350/1.4650 for another week or so”. For more information, read our latest forex news.