7 Apr 2015
GBP/USD upside bias while above 1.4775 – UOB
FXStreet (Barcelona) - Analysts at UOB Group, maintain an upside bias on GBP/USD, expecting a test of 1.5010 as long as the support at 1.4775 stays intact.
Key Quotes
“The overnight GBP high of 1.4981 did not quite reach the key 1.5010 resistance. The subsequent rapid reversal from the high suggests that a short-term top is in place.”
“GBP is likely consolidating its recent strong gains from late last week but as long 1.4775 is intact, the bias is for a more definitive test of the 1.5010 resistance.”
Key Quotes
“The overnight GBP high of 1.4981 did not quite reach the key 1.5010 resistance. The subsequent rapid reversal from the high suggests that a short-term top is in place.”
“GBP is likely consolidating its recent strong gains from late last week but as long 1.4775 is intact, the bias is for a more definitive test of the 1.5010 resistance.”