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31 Mar 2016
GBP/USD could tick higher near-term – UOB
In view of the research team at UOB Group, GBP/USD faces upside risks in the next 1-3 weeks.
Key Quotes
“Despite moving above 1.4400, the rally was short-lived as GBP dropped quickly from a high of 1.4457 to close near the day’s low”.
“Nevertheless, short-term upward momentum remains strong and the odds for further GBP strength in the days ahead have improved considerably”.
“The key resistance is clearly at the month-to-day high of 1.4514 and this level has to break before a sustained up-move in GBP can be expected”.
“Overall, this pair is expected to remain underpinned in the coming days as long as 1.4200 is not taken out”.
Key Quotes
“Despite moving above 1.4400, the rally was short-lived as GBP dropped quickly from a high of 1.4457 to close near the day’s low”.
“Nevertheless, short-term upward momentum remains strong and the odds for further GBP strength in the days ahead have improved considerably”.
“The key resistance is clearly at the month-to-day high of 1.4514 and this level has to break before a sustained up-move in GBP can be expected”.
“Overall, this pair is expected to remain underpinned in the coming days as long as 1.4200 is not taken out”.