Rapid drop in Pound Sterling (GBP) could extend vs US Dollar (USD); oversold conditions suggest any decline is part of a lower 1.2570/12640 range.
In the longer run, two-week GBP strength has ended; for the time being, it is likely to trade between 1.2520 and 1.2670, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Source: FXStreet
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