FXStreet (Guatemala) – Analysts at UOB explained that the next support below 1.5250 is at 1.5170 which is a major and critical level.
Key Quotes:
“This level was tested twice, once in June and another time earlier this month. Both times, this level held and led to a sharp rise in GBP.
At this stage, a sustained break below this level appears unlikely. In order to maintain the current momentum and also since we may have seen a big part of the down-move, a break back above 1.5450 is enough to indicate that our bearish expectation is wrong.”
(Market News Provided by FXstreet)