8 Mar 2016
GBP/USD: door open for a test of 1.44? – UOB
According to the research team at UOB Group, the current recovery of GBP/USD could extend towards 1.4400.
Key Quotes
“The recent price action is within our expectation wherein we expect the corrective recovery that started late last week to extend further to 1.4400 (after meeting the first level of 1.4230)”.
“At this stage, a move above 1.4400 is not expected. Overall, only a move back below 1.4050 would indicate that the prevalent upward pressure has eased (1.4130 is already a strong support)”.
Key Quotes
“The recent price action is within our expectation wherein we expect the corrective recovery that started late last week to extend further to 1.4400 (after meeting the first level of 1.4230)”.
“At this stage, a move above 1.4400 is not expected. Overall, only a move back below 1.4050 would indicate that the prevalent upward pressure has eased (1.4130 is already a strong support)”.