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”. For more information, read our latest forex news.