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13 Jan 2016
GBP/USD bearish below 1.4570 – UOB
FXStreet (Edinburgh) - The research team at UOB Group noted that a break above 1.4570 will be indicative that a short-term low is in place.
Key Quotes
“GBP continues its recent decline by easily breaking below the strong 1.4480 support resulting in a sharp drop to a low of 1.4352”.
“While the down-move is severely oversold, the next significant support is further down at the May 2010 low of 1.4228”.
“Overall, only a move back above 1.4570 would indicate that a short-term low is in place”.
Key Quotes
“GBP continues its recent decline by easily breaking below the strong 1.4480 support resulting in a sharp drop to a low of 1.4352”.
“While the down-move is severely oversold, the next significant support is further down at the May 2010 low of 1.4228”.
“Overall, only a move back above 1.4570 would indicate that a short-term low is in place”.