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GBP/USD rangebound between 1.4050-1.4450 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 4, 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 could extend its consolidative pattern in the next 1-3 weeks.

    Key Quotes

    “The break of the 1.4250 support last Friday indicates that the recent upward pressure has eased”.

    “The price action was not surprising as we have highlighted that only a clear break above 1.4470 and more importantly last month’s peak of 1.4514 would indicate the start of mid-term rally”.

    “For now, this pair has likely moved back into a 1.4050/1.4450 consolidation phase. To put it another way, there is no change to the current neutral outlook for GBP”.
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