GBP/USD gains limited by 1.5170 – UOB Group

FXStreet (Edinburgh) - Analysts at UOB Group expect the upside in GBP/USD to be limited by the 1.5170 area.

Key Quotes

“The strong overnight rally exceeded the 1.5050 resistance with a high of 1.5103”.

“However, the upmove is likely part of a stronger corrective recovery and not the start of sustained rally”.

“Allow for a move to 1.5120/25 but 1.5170 is expected to cap for a pull-back to 1.5050”.