No greater weakness of the pound sterling (GBP) is not ruled out against the US dollar (USD); Over -sales conditions suggest that any fall can be limited to a new test of the level of 1,3460. In the long term, the tentative increase in the Momentum downwards suggests that the GBP will probably be negotiated with a bearish trend towards 1,3430, FX analysts of UOB Group, quek being Leang and Peter Chia.
The GBP will probably be negotiated with an bearish trend towards 1,3430
24 -hour vision: “Our vision that the GBP was negotiated in a range yesterday was incorrect, since it fell to 1,3458, bouncing to close in 1,3498, with a fall of 0.38%. Although a greater weakness of the GBP today is not ruled likely to be threatened.
Vision at 1-3 weeks: “We became positive about the GBP at the beginning of last week. In our last narrative two days ago (June 9, for 1,3540), we highlight that ‘as long as 1,3500 is not broken, there is a possibility that the GBP re-tests 1,3615 before the risk of a more sustained and considerable setback increases. Yesterday, the GBP broke below 1,3500, reaching a minimum of 1,3458. The level of ‘strong resistance’ is broken in 1,3580. “
Source: Fx Street
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