Analysts at UOB Group, view the short-term outlook for GBP/USD as positive, with immediate risk being on the upside.
Key Quotes
“Despite improving short-term upward momentum, only a break above the key resistance at 1.5270 would indicate the start of a sustained mid-term recovery. Otherwise, we continue to expect this pair to trade choppily in a 1.4980/1.5270 range.”
“That said, the short-term outlook is positive and the risk for the next couple of days is on the upside but a clear break above 1.5270 appears unlikely at this stage.”
“Strong short-term support is at 1.5100.”
Key Quotes
“Despite improving short-term upward momentum, only a break above the key resistance at 1.5270 would indicate the start of a sustained mid-term recovery. Otherwise, we continue to expect this pair to trade choppily in a 1.4980/1.5270 range.”
“That said, the short-term outlook is positive and the risk for the next couple of days is on the upside but a clear break above 1.5270 appears unlikely at this stage.”
“Strong short-term support is at 1.5100.”
