21 Mar 2014
GBP/USD bottom not confirmed yet - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group comment that GBP/USD has not had a confirmed bottom just yet.
Key Quotes
"1.6505: The extension target highlighted at 1.6485 was met with a low of 1.6480. With no confirmation of a bottom just yet, expect another attempt lower towards 1.6470.”
“Only a break above 1.6545 would indicate a move higher towards the 1.6570 high seen yesterday."
Key Quotes
"1.6505: The extension target highlighted at 1.6485 was met with a low of 1.6480. With no confirmation of a bottom just yet, expect another attempt lower towards 1.6470.”
“Only a break above 1.6545 would indicate a move higher towards the 1.6570 high seen yesterday."