Forex Flash: GBP/USD bounces at 1.5575 but 'pair is bearish Near term' - UBS
Forex pairs in this Article »
GBP/USD
FXstreet.com (San Francisco) - The Sterling is currently trading in recovery mode against the Dollar after bouncing at 1.5475. Previously the GBPUSD felt from 1.5550 area on the back the weakening sentiment in Europe.
Pair is at 1.5515 at this moment, 0.07% below opening price action and the GBPUSD near term sentiment is "bearish" according to Geoffrey Yu, UBS' FX Strategist, "Near-term support is at 1.5454, a breach of which would open the door for weakness towards 1.5404."
"Resistance is at 1.5623," Yu concluded.
Pair is at 1.5515 at this moment, 0.07% below opening price action and the GBPUSD near term sentiment is "bearish" according to Geoffrey Yu, UBS' FX Strategist, "Near-term support is at 1.5454, a breach of which would open the door for weakness towards 1.5404."
"Resistance is at 1.5623," Yu concluded.
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