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GBP/USD bearish below 1.4570 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The research team at UOB Group noted that a break above 1.4570 will be indicative that a short-term low is in place.

    Key Quotes

    GBP continues its recent decline by easily breaking below the strong 1.4480 support resulting in a sharp drop to a low of 1.4352”.

    “While the down-move is severely oversold, the next significant support is further down at the May 2010 low of 1.4228”.

    “Overall, only a move back above 1.4570 would indicate that a short-term low is in place”.
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