GBP/USD bullish above 1.3250 – UOB

GBP/USD’s outlook remains on the neutral side for the time being, according to the research team at UOB Group.

Key Quotes

“The recent short-term weakness has not only stabilized but the strong rally over the past 2 days has shifted the near term risk to the upside”.

“The key level to watch is at 1.3250 (trend-line connecting the peak in July and early August) as a break above this level would strongly indicate the start of a sustained up-move towards 1.3370”.

“Strong support is at 1.3100 but only a move back below 1.3040 would indicate that the short-term upward pressure has eased”.