The research team at UOB Group has reiterated its neutral stance on GBP/USD n the next 1-3 weeks.
Key Quotes
“The outlook for GBP just turned neutral yesterday and the current movement is viewed as a corrective rebound that has scope to extend higher to 1.4230”.
“The high has been 1.4194 yesterday and strong short-term momentum continues to suggest a higher GBP in the next few days (though may not be sustained)”.
“Support is at 1.4080 but only move back below 1.4000 would indicate that a short-term top is in place. On the upside, the next resistance above 1.4230 is at 1.4300”.
(Market News Provided by FXstreet)