8 Apr 2015
GBP/USD downside favoured below 1.4900 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, comment that GBP/USD short-term pressure is to the downside and only a move above 1.4900 will negate this.
Key Quotes
“Similar to EUR/USD, we view the drop from the high of 1.4981 on Monday as part of a broad consolidation range. The key support is at 1.4775 but this is followed closely by 1.4740. From here, a break below this strong support zone is not our base view.”
“However, the short-term pressure is on the downside and only a move back above 1.4900 would indicate that a temporary low is in place.”
Key Quotes
“Similar to EUR/USD, we view the drop from the high of 1.4981 on Monday as part of a broad consolidation range. The key support is at 1.4775 but this is followed closely by 1.4740. From here, a break below this strong support zone is not our base view.”
“However, the short-term pressure is on the downside and only a move back above 1.4900 would indicate that a temporary low is in place.”