FXStreet (Edinburgh) – Analyst at UOB Group remarked the strong support at 1.5260 in GBP/USD.
Key Quotes
“In line with expectation, GBP rebounded to 1.5385/90 (high of 1.5385) before dropping sharply to exceed the 1.5290 target with a low of 1.5260”.
“Downward momentum is waning rapidly and this pair is likely close to making a short-term low”.
“For today, allow for a dip to 1.5295/00 but 1.5260 is expected to hold for a move to 1.5385”.
(Market News Provided by FXstreet)