GBP/USD: Below 1.4550 Look for 1.4300/1.4250 - Lloyds

GBP/USD: Below 1.4550 Look for 1.4300/1.4250 - Lloyds

31 May 2016, 16:55
Roberto Jacobs
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GBP/USD: Below 1.4550 Look for 1.4300/1.4250 - Lloyds

Analysts from Lloyds Bank warned about a further bearish correction in the GBP/USD pair, potentially targeting the 1.4300 - 1.4250 area.

Key Quotes:

“Intra-day studies remain bearish suggesting this latest rally phase towards 1.48 can see a deeper correction. We still see 1.48-1.4950 as a very strong resistance region. A drop back through 1.4600/1.4550 would confirm a short-term top for a decline back towards 1.4300/1.4250.

“Medium-term we still believe the market should remain in a range between 1.4050/1.3980 (1.35 key below there) and the 1.48-1.4950 region.”


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