GBP/USD focus on 1.4125/30 – UOB

By FXStreet FXStreet (Edinburgh) – In view of the research team at UOB Group, the pair’s focus remains on the key support at the 1.4125/30 band.

Key Quotes

“Temporary short-term low in place, only break below 1.4125/30 would indicate start of the next leg lower. GBP eked out a fresh low of 1.4125 before rebounding strongly”.

“A temporary short-term low is likely in place but as long as the current stop-loss at 1.4305 (lowered from 1.4350) is intact, further GBP weakness cannot be ruled out just yet”.

“That said, 1.4125/30 is a strong support now and this level has to break to indicate the start of the next leg lower”.
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Source:: FX Street