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GBP/USD corrective rebound expected – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, GBP/USD remains poised for a potential test of 1.4230.

    Key Quotes

    “The break above 1.4020 indicates that the 2-week bearish phase has ended”.

    “The current movement is viewed as a corrective rebound which has scope to extend higher to 1.4230”.

    “Strong support is at 1.3985 and only a clear break below the recent low of 1.3835 would indicate the resumption of the bearish phase”.
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