18 Jan 2016
GBP/USD stance points downwards – UOB
FXStreet (Edinburgh) - According to the research team at UOB Group, the pair’s perspective keeps pointing to further downside.
Key Quotes
“Continue to expect a move to 1.4228 where a break could lead to acceleration lower”.
“As highlighted in recent updates, despite severely oversold conditions, there are no signs that GBP is close to making a bottom”.
“From here, we continue to expect a move to the 2010 low of 1.4228 and a break below this level could acceleration lower towards then next support at 1.4100”.
Key Quotes
“Continue to expect a move to 1.4228 where a break could lead to acceleration lower”.
“As highlighted in recent updates, despite severely oversold conditions, there are no signs that GBP is close to making a bottom”.
“From here, we continue to expect a move to the 2010 low of 1.4228 and a break below this level could acceleration lower towards then next support at 1.4100”.