GBP/USD stance points downwards – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to the research team at UOB Group, the pair’s perspective keeps pointing to further downside.

    Key Quotes

    “Continue to expect a move to 1.4228 where a break could lead to acceleration lower”.

    “As highlighted in recent updates, despite severely oversold conditions, there are no signs that GBP is close to making a bottom”.

    “From here, we continue to expect a move to the 2010 low of 1.4228 and a break below this level could acceleration lower towards then next support at 1.4100”.
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