GBP/USD bullish again, targets 1.4770 – UOB

Following the sharp appreciation of GBP/USD, analysts at UOB Group have shifted their stance to bearish.

Key Quotes

“The unexpected clear and strong break above 1.4550 has shifted the 2-week neutral outlook to bullish again”.

“From here, the target is for a move towards the 1.4770 peak seen earlier this month. Stop-loss is at 1.4450 even though 1.4520 is already a strong shot-term support”.