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#1 26-10-2018 08:43:53

johnedward
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From: Paris - France
Registered: 21-12-2009
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GBP/USD: UOB expects the pair to keep declining to 1.2835/40

GBP/USD: UOB expects the pair to keep declining to 1.2835/40

     

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The UOB Bank retains a negative view of the GBP/USD in an analysis note published yesterday:

"Instead of consolidating as we had expected, the GBP dropped and broke major support at 1.2920-25. The drop came amidst strong bearish momentum, and it is possible that the GBP/USD pair marks new lows compared to that of Wednesday night at 1.2867.

As part of a further decline, the move could extend to 1.2835/40. The next support level is at 1.2790. Resistance levels are at 1.2910, and then 1.2940.

Within the next 1 to 3 weeks, we believe that the GBP/USD will remain under pressure until the pair is able to regain the key resistance level at 1.2990.
"


"Anything worth having is worth going for - all the way." - J.R. Ewing

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