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23 Feb 2015
GBP/USD upward momentum waning – UOB
FXStreet (Barcelona) - Analysts at UOB Group view that GBP/USD's upward momentum is waning and the pair needs to reclaim 1.5480 before any further upmoves can be expected.
Key Quotes
“The sharp pull-back from last week’s high of 1.5480 has resulted in a quick loss in the upward momentum.”
“A break below 1.5310 would suggest that a temporary top is in place.”
“Only a move back above 1.5480 would indicate that the next up-leg towards the target at 1.5590 has started.”
“Supports: 1.5310, 1.5200”
“Resistants: 1.5480, 1.5590”
Key Quotes
“The sharp pull-back from last week’s high of 1.5480 has resulted in a quick loss in the upward momentum.”
“A break below 1.5310 would suggest that a temporary top is in place.”
“Only a move back above 1.5480 would indicate that the next up-leg towards the target at 1.5590 has started.”
“Supports: 1.5310, 1.5200”
“Resistants: 1.5480, 1.5590”