GBP/USD Bearish Below 1.4300 – UOB

GBP/USD Bearish Below 1.4300 – UOB

17 May 2016, 14:08
Roberto Jacobs

GBP/USD Bearish Below 1.4300 – UOB

The research team at UOB Group sees GBP/USD's outlook turning to bearish on a close below the 1.4300 handle.

Key Quotes

“As mentioned yesterday, momentum indicators are not strong and we prefer to wait for a daily closing below 1.4300 before turning bearish”.

“However, the strong and rather aggressive rally from the low of 1.4333 was unexpected”.

“The recent downward pressure has eased and we continue to hold a neutral view for GBP and expect broad sideway trading between 1.4300 and 1.4550 for the next one week or so”.


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