GBP/USD downside risks on the rise – UOB

The research team at UOB Group has noted GBP faces risks of further downside in the near term.

Key Quotes

“As mentioned yesterday, while the downside risk has clearly increased, we prefer to maintain our neutral view unless there is a clear break below the major 1.4000 support”.

“Overall, the downward pressure will continue to grow unless this pair can move back above 1.4200 in the next 1 to 2 days”.