The research team at UOB Group expects the pair to extend its rangebound pattern in the next weeks. Key Quotes “Instead of extending its recent weakness, GBP rebounded strongly from a low of 1.4192. The recent downward pressure has clearly eased and the current movement is likely the start of a consolidation phase”. “There is no change to the view wherein we consider the current movement in GBP as part of a consolidation phase. Expected range, 1.4050/1.4450”. For more information, read our latest forex news.