4 Global Market Updates- 16 November, 2022

 In this article, we have covered the highlights of global market news about the GBP/USD, USD/CHF, USD/CAD and EUR/USD.

GBPUSD: UOB sees declining bets on a breakthrough of 1.2100

According to UOB Group economists Lee Sue Ann and Quek Ser Leang, there is less chance that the GBPUSD will rise over 1.2100 shortly.

24-hour view: “Our prediction that the pound will “trade between 1.1680 and 1.1825” yesterday proved to be false as the pound soared to 1.2027 before falling to 1.1792 and then rising to finish at 1.1868 (+0.92%). The sudden decline under overbought circumstances indicates it is doubtful that the pound will gain further ground. GBP is more likely to move between 1.1800 and 1.1950 today.

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