20 Jan 2014
Flash: GBP/USD in consolidation range? - UOB Group
FXstreet.com (Barcelona) - UOB Group Strategists feel that GBP/USD is likely in a 1.6300 to 1.6520 consolidation range.
Key Quotes
“While the strong support at 1.6320 was marginally taken out with a low of 1.6310 last Friday, the strong surge higher suggests that GBP is still likely caught in a consolidation range.”
“Only a clear move out of the expected 1.6300 to 1.6550 range will lead to a more sustained move.”
“Supports: 1.6380, 1.6300. Resistants: 1.6480, 1.6520”
Key Quotes
“While the strong support at 1.6320 was marginally taken out with a low of 1.6310 last Friday, the strong surge higher suggests that GBP is still likely caught in a consolidation range.”
“Only a clear move out of the expected 1.6300 to 1.6550 range will lead to a more sustained move.”
“Supports: 1.6380, 1.6300. Resistants: 1.6480, 1.6520”