29 Mar 2016
GBP/USD: rangebound most likely near-term – UOB
The research team at UOB Group has suggested the pair could remain in a consolidative pattern in the next weeks.
Key Quotes
“The strong rebound that took out 1.4250 yesterday suggests that a short-term bottom is in place at the low of 1.4056 last week”.
“While the risk for further GBP weakness has diminished considerably, the current movement is likely part of a broader sideway consolidation range and not the start of a sustained up-move”.
Key Quotes
“The strong rebound that took out 1.4250 yesterday suggests that a short-term bottom is in place at the low of 1.4056 last week”.
“While the risk for further GBP weakness has diminished considerably, the current movement is likely part of a broader sideway consolidation range and not the start of a sustained up-move”.