FXStreet – The GBP/USD remains in the overbought market conditions, said the experts of the Japanese UOB Bank.
Our bullish view remains unchanged. The GBP is overbought but has room to run in the direction of 1,2950.
The goal seems to be to not be in range, while the Upward momentum is not quite as strong as hoped. Take a breather at this high level would not be surprising.
The GBP closes above this level, would be a continuation of the upward movement to 1,3000. In order not to jeopardize the current bullish position should not pullback below the 1.28 to he level.
** FXStreet News Editorial, FXStreet**