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23 Jan 2015
GBP/USD to move towards 1.4814 – UOB
FXStreet (Barcelona) - Analysts at UOB Group mention that the current plunge in GBP/USD suggests the start of its next leg lower towards the 2013 low of 1.4814.
Key Quotes
“GBP moved above our trailing-stop at 1.5200 yesterday with a high of 1.5213. The subsequent plunge suggests that the recent bearish trend is still intact and the current movement is likely the start of the next leg lower towards the 2013 low of 1.4814. Expect any short-term rebound to hold below 1.5170.”
Key Quotes
“GBP moved above our trailing-stop at 1.5200 yesterday with a high of 1.5213. The subsequent plunge suggests that the recent bearish trend is still intact and the current movement is likely the start of the next leg lower towards the 2013 low of 1.4814. Expect any short-term rebound to hold below 1.5170.”