GBP/USD could re-test 1.3535 – UOB

In opinion of the research team at UOB Group, there is scope for GBP/USD to re-visit 1.3535 in the next weeks.

Key Quotes

“We highlighted the increasing risk of an interim low yesterday and suggested profit-taking for those who are short”.

“However, the rebound was much stronger and faster than expected. The current movement is viewed as a correction for now even though the recovery could extend higher to 1.3535 in the coming days”.

“Overall, this pair is expected to remain supported unless there is a move back below 1.3050 with 1.3150 acting as a strong shorter-term support”.