FXStreet – The UOB Group team of Analysts for the GBP/USD is bearish and only a break above the 1,2910 is the end of the bearish Phase signals.
“The GBP recovered to yesterday form the High at 1,2888. He remained under our 1,2910 Stop Loss for the bearish Outlook.”
“The subsequent strong decline after the NY closing price is encouraging, but the decline has lost momentum and this speaks to part of the profits to the 1,2755/60, which could be achieved in the next 1-2 days.”
“In the case of a break-up of the 1,2755/60, the focus shifts to the 1,2705. About 1,2910 (unchanged level) is signalled an end to the bearish Phase, which last Friday began.”
** FXStreet News Editorial, FXStreet**