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29 Jan 2016
GBP/USD neutral near-term – UOB
FXStreet (Edinburgh) - In view of strategists at UOB Group, the pair’s outlook remains tilted to the neutral side in the short-term.
Key Quotes
“We shifted from a bearish to neutral GBP stance on Monday and were of the view that the current corrective rebound could carry this pair higher to test the 1.4450 resistance”.
“The movement thus far is within our expectation as we saw a high of 1.4407 yesterday. The undertone remains positive and we continue to expect a move to 1.4450”.
“Based on the current momentum indicators, a sustained break above this level is unlikely. That said, the upward pressure will continue to build as long as GBP stays above 1.4280”.
Key Quotes
“We shifted from a bearish to neutral GBP stance on Monday and were of the view that the current corrective rebound could carry this pair higher to test the 1.4450 resistance”.
“The movement thus far is within our expectation as we saw a high of 1.4407 yesterday. The undertone remains positive and we continue to expect a move to 1.4450”.
“Based on the current momentum indicators, a sustained break above this level is unlikely. That said, the upward pressure will continue to build as long as GBP stays above 1.4280”.