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29 Oct 2014
Further GBP strength towards 1.6225 expected - UOB Group
FXStreet (Łódź) - The Market Strategy Team at UOB Group believe that GBP/USD should continue rising towards the 1.6225 area.
Key Quotes
"The overnight high of 1.6182 held just below the strong resistant at 1.6185."
"The pull-back from the high is likely just a pause in the current up-move and as long as the key support at 1.6040 (from 1.5995) is intact, we continue to expect further GBP strength towards 1.6225 (see Chart of the Day update yesterday)."
Key Quotes
"The overnight high of 1.6182 held just below the strong resistant at 1.6185."
"The pull-back from the high is likely just a pause in the current up-move and as long as the key support at 1.6040 (from 1.5995) is intact, we continue to expect further GBP strength towards 1.6225 (see Chart of the Day update yesterday)."