GBP/USD capped at 1.4663? – UOB

The research team at UOB Group believes GBP/USD has carved an interim top at 1.4663 in the next weeks.

Key Quotes

“The sharp drop last Friday was unexpected and the 1.4488 low was just a few pips above our 1.4485 stop-loss”.

“Unless GBP can move and stay above 1.4580 within these couple of days, a break below 1.4485 seems likely”.

“In other words, the recent high 1.4663 is likely the extent of the current bullish phase and the target of 1.4770 is not met”.