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20 Feb 2014
Flash: GBP/USD under downside pressure? - UOB Group
Market Strategists at UOB Group note that prolonged GBP/USD consolidation is suggesting increasing downside pressure.
Key Quotes
“However, as long as the key support at 1.6570 is intact, the risk for further up-move cannot be ruled out.”
“Monday’s high of 1.6820/25 is acting as a strong resistant now and only a clear break of this level will lead to a move towards the next target at 1.6900.”
Key Quotes
“However, as long as the key support at 1.6570 is intact, the risk for further up-move cannot be ruled out.”
“Monday’s high of 1.6820/25 is acting as a strong resistant now and only a clear break of this level will lead to a move towards the next target at 1.6900.”