24 Jun 2014
GBP/USD bulls targeting 1.71 still - UOB Group
FXStreet (Guatemala) - The Market Strategy Team at UOB Group are suggesting the current downside move is consolidative only and sights are for higher levels yet in GBP/USD.
Key Quotes:
"The price action here is similar to EUR wherein the current short-term consolidation phase should lead to further GBP strength by end of the week. We are targeting a break above last week’s high at 1.7065 for a move towards 1.7100. Key support is at1.6920 but this level is expected to move higher over the next few days."
Key Quotes:
"The price action here is similar to EUR wherein the current short-term consolidation phase should lead to further GBP strength by end of the week. We are targeting a break above last week’s high at 1.7065 for a move towards 1.7100. Key support is at1.6920 but this level is expected to move higher over the next few days."