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27 Jan 2016
GBP/USD consolidative ahead of a test of 1.4450 – UOB
FXStreet (Edinburgh) - The research team at UOB Group believes the pair could attempt a consolidative pattern ahead of a bull run towards the mid-1.4400s.
Key Quotes
“The current price action bodes well for our view that GBP is in a corrective recovery phase which appears to have scope to extend higher to test the major 1.4450 resistance”.
“At this stage, a sustained move above this level is unlikely. Overall, this pair is expected to remain underpinned with solid support at 1.4150 and last week’s low of 1.4080 is likely ‘safe’, at least for the next few days”.
Key Quotes
“The current price action bodes well for our view that GBP is in a corrective recovery phase which appears to have scope to extend higher to test the major 1.4450 resistance”.
“At this stage, a sustained move above this level is unlikely. Overall, this pair is expected to remain underpinned with solid support at 1.4150 and last week’s low of 1.4080 is likely ‘safe’, at least for the next few days”.