Analytics / Forex News
GBP/USD could tick higher near-term UOB
11:23 31 March /2016 Forex
In view of the research team at UOB Group, GBP/USD faces upside risks in the next 1-3 weeks.
Despite moving above 1.4400, the rally was short-lived as GBP dropped quickly from a high of 1.4457 to close near the days low.
Nevertheless, short-term upward momentum remains strong and the odds for further GBP strength in the days ahead have improved considerably.
The key resistance is clearly at the month-to-day high of 1.4514 and this level has to break before a sustained up-move in GBP can be expected.
Overall, this pair is expected to remain underpinned in the coming days as long as 1.4200 is not taken out.
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