11 Mar 2016
GBP/USD upside bias above 1.4120 – UOB
The research team at UOB Group sees the pair’s bullish outlook intact above the 1.4120 level.
Key Quotes
“As indicated yesterday, as long as 1.4050 is intact, another attempt higher to test the major 1.4400 resistance cannot be ruled out just yet”.
“GBP dipped to a low of 1.4120 yesterday and the up-move from the low appears to be on track for a move to 1.4400”.
“At this stage, we not expect a sustained move above this level. Overall, the undertone will remain positive unless there is a move back below 1.4120”.
Key Quotes
“As indicated yesterday, as long as 1.4050 is intact, another attempt higher to test the major 1.4400 resistance cannot be ruled out just yet”.
“GBP dipped to a low of 1.4120 yesterday and the up-move from the low appears to be on track for a move to 1.4400”.
“At this stage, we not expect a sustained move above this level. Overall, the undertone will remain positive unless there is a move back below 1.4120”.