15 Mar 2016
GBP/USD bearish below 1.4200 – UOB
The research team at UOB Group sees further downside below the 1.4200 handle.
Key Quotes
“The corrective rebound that started earlier this month has likely topped out at 1.4437 yesterday (exceeding our 1.4400 target)”.
“While a short-term top is likely in place, only a daily closing below 1.5200 would indicate the start of a sustained down-move”.
“In other words, the current outlook is still viewed as neutral as GBP could trade sideways for a while more (holding below 1.4437) before staging a deeper down-move”.
Key Quotes
“The corrective rebound that started earlier this month has likely topped out at 1.4437 yesterday (exceeding our 1.4400 target)”.
“While a short-term top is likely in place, only a daily closing below 1.5200 would indicate the start of a sustained down-move”.
“In other words, the current outlook is still viewed as neutral as GBP could trade sideways for a while more (holding below 1.4437) before staging a deeper down-move”.