The outlook for GBP/USD remains tilted to the bearish side, according to the research team at UOB Group.
Key Quotes
“The price action over the last couple of days reinforces our view wherein GBP is expected to struggle to move lower towards the next support at 1.3800”.
“Momentum has slowed further but from here, only a move above 1.4020 (adjusted from 1.4050) would indicate that a short-term low is in place”.
“Until then, there is still a slim chance that we will see another leg lower to 1.3800”.
(Market News Provided by FXstreet)