GBP/USD looks neutral near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group has reiterated its neutral stance on GBP/USD n the next 1-3 weeks.

    Key Quotes

    “The outlook for GBP just turned neutral yesterday and the current movement is viewed as a corrective rebound that has scope to extend higher to 1.4230”.

    “The high has been 1.4194 yesterday and strong short-term momentum continues to suggest a higher GBP in the next few days (though may not be sustained)”.

    “Support is at 1.4080 but only move back below 1.4000 would indicate that a short-term top is in place. On the upside, the next resistance above 1.4230 is at 1.4300”.
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