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GBP/USD remains neutral short-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group expects the pair to remain rangebound in the next weeks.

    Key Quotes

    “As pointed out yesterday, despite the generally positive outlook, a sustained move above 1.4575 is unlikely. However, the rapid and sharp down-move from the high of 1.4563 is likely part of a broader consolidation phase and not the start of deeper down-move”.

    “Sideway trading is likely for today and yesterday’s range of 1.4383/1.4563 should contained today’s movement”.

    “There is not much to add as GBP continues to trade choppily within a confined range. We remain neutral and expect this pair to trade in a broad 1.4350/1.4650 for another week or so”.
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