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GBP/USD downside appears limited – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of the research team at UOB Group, occasional pullbacks in the pair seem to be limited.

    Key Quotes

    “As mentioned last week, we were not convinced that the recent GBP weakness is the start of a sustained down-move”.

    “The rebound from the low of 1.4056 last Thursday suggests that the short-term downward pressure has eased and this pair is expected to trade sideways in the coming days, likely holding between 1.4050 and 1.4250”.

    “The strong 1.4400 resistance is not expected to come under threat for now. On the downside, the next support below 1.4050 is at 1.4000”.
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