GBP/USD: rangebound most likely near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group has suggested the pair could remain in a consolidative pattern in the next weeks.

    Key Quotes

    “The strong rebound that took out 1.4250 yesterday suggests that a short-term bottom is in place at the low of 1.4056 last week”.

    “While the risk for further GBP weakness has diminished considerably, the current movement is likely part of a broader sideway consolidation range and not the start of a sustained up-move”.
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