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17 Mar 2014
Flash: GBP/USD to test 1.6540 support? - UOB Group
Quek Ser Leang, Market Strategist at UOB Group is expecting a GBP/USD move towards the strong support at 1.6540.
Key Quotes
“While most indicators are suggesting a weaker GBP, the down-move has been rather muted so far.”
“However, as long as the key resistant at 1.6720 is intact, we continue to expect a move lower towards 1.6540 but the next target at 1.6440 is probably out of reach for this week.”
“Supports: 1.6540, 1.6440. Resistants: 1.6720, 1. 6823.”
Key Quotes
“While most indicators are suggesting a weaker GBP, the down-move has been rather muted so far.”
“However, as long as the key resistant at 1.6720 is intact, we continue to expect a move lower towards 1.6540 but the next target at 1.6440 is probably out of reach for this week.”
“Supports: 1.6540, 1.6440. Resistants: 1.6720, 1. 6823.”