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GBP/USD offered below 1.6300 – UOB Group

FXStreet (Edinburgh) - The sterling will remain under selling pressure as long as the market keeps trading below the 1.6300 mark, suggested Quek Ser Leang, Market Strategist at UOB Group.

Key Quotes

“The short-term upward momentum continues to deteriorate and further GBP strength is unlikely from here”.

“However, another attempt towards yesterday’s high of 1.6275/80 will not be surprising but as long as the major resistant at 1.6300 is not taken out, this could lead to a deeper pull-back towards 1.6200/05.

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