GBP/USD bearish target at 1.4950 – UOB

FXStreet (Barcelona) - Analysts at UOB Group, note that the current rebound for the pound will be short-lived, and the bearish target for 1.4950 still stands.

Key Quotes

“GBP touched a fresh 4-week low of 1.5025 yesterday before rebounding strongly to touch an overnight high of 1.5138.”

“The rebound appears to be corrective in nature and the outlook for GBP in the coming weeks is still bearish with a target of 1.4950.”

“The trailing-stop for the bearish view is still at 1.5255 but 1.5160 is already a strong short-term resistance.”