GBP/USD Vulnerable, Still Neutral – UOB
In view of the research team at UOB Group, the pair’s outlook remains
neutral in the near term, although downside risks have been increasing.
Key Quotes
“The break below the major 1.4050 support was short-lived as GBP
rebounded strongly from a low of 1.4006. The downside risk has clearly
increased but at this stage, we prefer to maintain our neutral view”.
“That
said, the downward pressure will continue to grow unless this pair can
move back above 1.4280 in the next 1 to 2 days. A break below 1.4000
would increase the odds for a retest of the 1.3835 March low”.
(Market News Provided by FXstreet)
