3 Mar 2016
GBP/USD corrective rebound expected – UOB
In view of the research team at UOB Group, GBP/USD remains poised for a potential test of 1.4230.
Key Quotes
“The break above 1.4020 indicates that the 2-week bearish phase has ended”.
“The current movement is viewed as a corrective rebound which has scope to extend higher to 1.4230”.
“Strong support is at 1.3985 and only a clear break below the recent low of 1.3835 would indicate the resumption of the bearish phase”.
Key Quotes
“The break above 1.4020 indicates that the 2-week bearish phase has ended”.
“The current movement is viewed as a corrective rebound which has scope to extend higher to 1.4230”.
“Strong support is at 1.3985 and only a clear break below the recent low of 1.3835 would indicate the resumption of the bearish phase”.