28 Mar 2016
GBP/USD downside appears limited – UOB
In view of the research team at UOB Group, occasional pullbacks in the pair seem to be limited.
Key Quotes
“As mentioned last week, we were not convinced that the recent GBP weakness is the start of a sustained down-move”.
“The rebound from the low of 1.4056 last Thursday suggests that the short-term downward pressure has eased and this pair is expected to trade sideways in the coming days, likely holding between 1.4050 and 1.4250”.
“The strong 1.4400 resistance is not expected to come under threat for now. On the downside, the next support below 1.4050 is at 1.4000”.
Key Quotes
“As mentioned last week, we were not convinced that the recent GBP weakness is the start of a sustained down-move”.
“The rebound from the low of 1.4056 last Thursday suggests that the short-term downward pressure has eased and this pair is expected to trade sideways in the coming days, likely holding between 1.4050 and 1.4250”.
“The strong 1.4400 resistance is not expected to come under threat for now. On the downside, the next support below 1.4050 is at 1.4000”.