GBP/USD still targets 1.3370/75 – UOB

In opinion of analysts at UOB Group, GBP/USD’s outlook remains bullish, with the next target at 1.3370.

Key Quotes

“GBP eased off quickly after making a high of 1.3263. The current movement is viewed a corrective pull-back and while a deeper probe would not be surprising, a sustained drop below 1.3140 is not expected (key support is at 1.3100). Resistance is at 1.3235 ahead of the Wednesday’s high near 1.3275”.

“We turned bullish GBP yesterday and there is no change to the view. The immediate target and stop-loss remains unchanged at 1.3375 and 1.3100 respectively”.