GBP/USD critical support at 1.5170 – UOB

By FXStreet 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.”
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Source:: FX Street