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28 Jan 2014
Flash: Expect GBP/USD support to hold - UOB Group
FXstreet.com (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group recommends that investors expect key support at 1.6450 to hold for a retest of last week’s high at 1.6668.
Key Quotes
“While the outlook remains bullish, the sharp plunge from the high of 1.6668 last Friday suggest that the upside risk for this week is limited.”
“A break below the key support at 1.6450 will suggest a move lower towards 1.6305/10. Otherwise, expect the support at 1.6450 to hold for a retest of the 1.6668 high (next strong resistant at 1.6740).”
“Supports: 1.6500, 1.6450. Resistants: 1.6668, 1.6740.”
Key Quotes
“While the outlook remains bullish, the sharp plunge from the high of 1.6668 last Friday suggest that the upside risk for this week is limited.”
“A break below the key support at 1.6450 will suggest a move lower towards 1.6305/10. Otherwise, expect the support at 1.6450 to hold for a retest of the 1.6668 high (next strong resistant at 1.6740).”
“Supports: 1.6500, 1.6450. Resistants: 1.6668, 1.6740.”