GBP/USD now eyes 1.4770 – UOB

Analysts at UOB Group believe GBP/USD could attempt a visit to recent highs near 1.4770 in the next 1-3 weeks.

Key Quotes

“The ease of which last week’s 1.4663 top is taken out coupled with the strong daily closing has shifted the outlook to bullish again”.

“From here, we are targeting a break above the month’s high of 1.4770”.

“The next resistance above this level is closer to 1.4890. Stop-loss is at 1.4550 even though 1.4625 is already a strong support”.