GBP/USD bearish, targets 1.4200 near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, the pair’s downside could test the 1.4200 handle in the next weeks.

    Key Quotes

    “We have maintained a neutral view for GBP since late January and viewed the rebound from the low of 1.4080 as a corrective recovery”.

    “The abrupt and sharp drop below the key 1.4350 support yesterday suggests that GBP has resumed its recent downtrend”.

    “The immediate target is for a move to 1.4200 with a reasonable high chance for a retest of the 1.4080 low. Resistance is at 1.4385 but only a move above 1.4450 would indicate that our bearish view is wrong”.
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