GBP/USD: a test of 1.40 is not ruled out – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In view of the research team at UOB Group, a visit of the 1.40 level remains on the cards.

    Key Quotes

    GBP made a fresh low of 1.4080 but the subsequent strong recovery continues to suggest that this pair is trying to base out for a recovery”.

    “However, confirmation of a low is only upon a break above 1.4305”.

    “In the meanwhile, another leg lower to 1.4000 cannot be ruled out just yet even though the odds for such a move appear to be rather slim”.
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