14 Mar 2014
Flash: GBP/USD outlook negative - UOB Group
FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group notes that GBP/USD outlook is negative for now.
Key Quotes
“While the overnight high of 1.6718 stayed just below the key resistant at 1.6720, the struggling downward momentum suggests limited downside pressure for now.”
“However, the current outlook is considered as negative and we continue to expect a drift lower towards the recent low at 1.6569 followed by 1.6530. Key resistant is still at 1.6720.”
Key Quotes
“While the overnight high of 1.6718 stayed just below the key resistant at 1.6720, the struggling downward momentum suggests limited downside pressure for now.”
“However, the current outlook is considered as negative and we continue to expect a drift lower towards the recent low at 1.6569 followed by 1.6530. Key resistant is still at 1.6720.”