GBP/USD corrective recovery could test 1.3535 – UOB

Analysts at UOB Group believe GBP/USD could see another test of 1.3535 in the next 1-3 weeks.

Key Quotes

“We shifted to a neutral stance on Wednesday and were of the view that GBP is in a corrective recovery which has room to extend higher to 1.3535”.

“The anticipated up-move has been more rapid and impulsive than expected and a move above 1.3535 could lead to extension to 1.3600”.

“While the prospect for such a move is not high, it has clearly improved considerably. Overall, GBP is expected to stay underpinned with support at 1.3250 followed by the now very strong level at 1.3150”.