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Trading news
2 Aug 2016
GBP/USD neutral stance unchanged – UOB
In view of the research team at UOB Group, Cable’s neutral outlook is poised to persist in the next weeks.
Key Quotes
“The neutral phase in GBP that started more than 2 weeks ago is still intact”.
“As highlighted in recent updates, while shorter term upward momentum has improved, a sustained up-move in GBP is likely only if there is a clear break above the strong 1.3320 resistance”.
“At this stage, the odds for a break of this level are not high even though they have increased considerably. Overall, the positive undertone would continue to improve as long as GBP stays above 1.3100”.