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GBP/USD recovery still denied – UOB Group

FXStreet (Edinburgh) - Market strategists at UOB Group sees a recovery in the pair will have to wait for the time being.

Key Quotes

“Against our expectation, GBP moved clearly below the 1.6160 support with an overnight low of 1.6112”.

“Despite patchy downward momentum, it is too early to expect a recovery just yet”.

“Expect 1.6195/00 to cap for another attempt towards 1.6100”.

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