4 Mar 2016
GBP/USD looks neutral near-term – UOB
The research team at UOB Group has reiterated its neutral stance on GBP/USD n the next 1-3 weeks.
Key Quotes
“The outlook for GBP just turned neutral yesterday and the current movement is viewed as a corrective rebound that has scope to extend higher to 1.4230”.
“The high has been 1.4194 yesterday and strong short-term momentum continues to suggest a higher GBP in the next few days (though may not be sustained)”.
“Support is at 1.4080 but only move back below 1.4000 would indicate that a short-term top is in place. On the upside, the next resistance above 1.4230 is at 1.4300”.
Key Quotes
“The outlook for GBP just turned neutral yesterday and the current movement is viewed as a corrective rebound that has scope to extend higher to 1.4230”.
“The high has been 1.4194 yesterday and strong short-term momentum continues to suggest a higher GBP in the next few days (though may not be sustained)”.
“Support is at 1.4080 but only move back below 1.4000 would indicate that a short-term top is in place. On the upside, the next resistance above 1.4230 is at 1.4300”.