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GBP/USD potential stab to the mid-1.61s not ruled out – UOB Group

FXStreet (Edinburgh) - Market Strategists at UOB Group see potential for a bullish attempt to 1.6145/50, followed by another leg lower.

Key Quotes

“While the pull-back in GBP held above the 1.6000 support, the subsequent rebound was much stronger than expected”.

“The up-move appears incomplete and another leg higher towards 1.6145/50 is likely before a pull-back can be expected”.

“Only a move back below 1.6050 would indicate that a short-term top is in place”.

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