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GBP/USD still in consolidative range – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The research team at UOB Group expects the pair to extend its rangebound pattern in the next weeks.

    Key Quotes

    “Instead of extending its recent weakness, GBP rebounded strongly from a low of 1.4192. The recent downward pressure has clearly eased and the current movement is likely the start of a consolidation phase”.

    “There is no change to the view wherein we consider the current movement in GBP as part of a consolidation phase. Expected range, 1.4050/1.4450”.
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