FXStreet (Edinburgh) – In opinion of the research team at UOB Group, the pair needs to close above the 1.4680 level in order to habilitate a bullish stance.
Key Quotes
“The corrective rebound target indicated in recent updates at 1.4565 was exceeded with an overnight high of 1.4649. The high is not far from the next major resistance at 1.4680”.
“While the short-term undertone remains positive (unless there is a move back below 1.4490), we prefer to wait for a daily closing above 1.4680 before shifting to a bullish stance”.
“In other words, we are not certain that the current GBP strength can be sustained in the coming days”.
(Market News Provided by FXstreet)