GBP/USD Could Re-test 1.4400 in the Near-term – UOB
The research team at UOB Group suggested the likeliness of a visit to the 1.4400 area in the next 1-3 weeks.
Key Quotes
“GBP touched a high of 1.4770 before reversing abruptly and sharply to take out the stop-loss at 1.4540”.
“A
short-term is likely in place at 1.4770 and the current corrective
pull-back appears to have scope to extend lower to 1.4400”.
“At
this stage, a sustained move below this level appears unlikely.
Resistance at 1.4690 is likely strong enough to contain any short-term
rebound”.
