GBP/USD Vulnerable, Still Neutral – UOB
In view of the research team at UOB Group, the pair’s outlook remains
neutral in the near term, although downside risks have been increasing.
“The break below the major 1.4050 support was short-lived as GBP rebounded strongly from a low of 1.4006. The downside risk has clearly increased but at this stage, we prefer to maintain our neutral view”.
“That said, the downward pressure will continue to grow unless this pair can move back above 1.4280 in the next 1 to 2 days. A break below 1.4000 would increase the odds for a retest of the 1.3835 March low”.
(Market News Provided by FXstreet)