GBP/USD now targets 1.5020 – UOB

The research team at UOB Group now sees GBP/USD attempting a visit to the 1.5020 area in the next 1-3 weeks.

Key Quotes

“As highlighted in recent updates, a daily closing above the major 1.4770 resistance would indicate that the outlook for GBP has shifted to bullish”.

“Upward momentum is improving at a rapid pace and the immediate target from here is for a move to 1.5020”.

“In view of the elevated volatility, the stop-loss is placed at 1.4560 even though 1.4640 is already a strong shorter-term support. The next resistance above 1.5020 is closer to 1.5110 followed by 1.5335”.