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7 Aug 2014
GBP/USD remains bearish below 1.6905 - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group sees the pair's stance as bearish while trading below 1.6905.
Key Quotes
"GBP touched a low of 1.6821 yesterday before rebounding".
"Downward momentum is waning rapidly and our revised target at 1.6785 appears to be out of reach for now".
"However, as long as the key resistant at 1.6905 (from 1.6925) is intact, the outlook for GBP is still considered as bearish."
Key Quotes
"GBP touched a low of 1.6821 yesterday before rebounding".
"Downward momentum is waning rapidly and our revised target at 1.6785 appears to be out of reach for now".
"However, as long as the key resistant at 1.6905 (from 1.6925) is intact, the outlook for GBP is still considered as bearish."