13 Feb 2015
Expect further GBP strength towards 1.5590 – UOB Group
FXStreet (Barcelona) - Analysts at UOB Group, maintain a bullish outlook on GBP/USD, expecting the pair to target 1.5590 next.
Key Quotes
“After trading in a muted manner for the last few days, GBP finally surged higher yesterday. The immediate target indicated at 1.5395 was met with an overnight high of 1.5415.”
“The outlook for the coming week is still clearly bullish and we expect further GBP strength towards year’s high near 1.5590.”
“That said, this level is a major resistance and at this stage, a clear break above this level appears unlikely.”
“The trailing-stop for our bullish view has moved from 1.5140 to 1.5250 even though 1.5300 is already a very strong support.”
Key Quotes
“After trading in a muted manner for the last few days, GBP finally surged higher yesterday. The immediate target indicated at 1.5395 was met with an overnight high of 1.5415.”
“The outlook for the coming week is still clearly bullish and we expect further GBP strength towards year’s high near 1.5590.”
“That said, this level is a major resistance and at this stage, a clear break above this level appears unlikely.”
“The trailing-stop for our bullish view has moved from 1.5140 to 1.5250 even though 1.5300 is already a very strong support.”