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25 Jan 2016
GBP/USD potential for a squeeze to 1.4450 – UOB
FXStreet (Edinburgh) - In view of the research team at UOB Group, the pair could attempt a recovery towards the mid-1.4400s in the near-term.
Key Quotes
“The break of 1.4305 last Friday finally confirms that GBP has made a short-term low. In other words, the bearish phase that started in December has ended”.
“We view the current movement as a corrective rebound which has room to extend higher to 1.4450 but at this stage, a move above this level appears unlikely”.
“Strong support is at 1.4150 and the recent low of 1.4080 is acting as a very strong support now”.
Key Quotes
“The break of 1.4305 last Friday finally confirms that GBP has made a short-term low. In other words, the bearish phase that started in December has ended”.
“We view the current movement as a corrective rebound which has room to extend higher to 1.4450 but at this stage, a move above this level appears unlikely”.
“Strong support is at 1.4150 and the recent low of 1.4080 is acting as a very strong support now”.