Flash: GBP weakness to follow - UOB Group

FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group notes that despite overall bearish indications, GBP weakness has been limited so far.

Key Quotes

“However, the current short term consolidation is likely a prelude for a more sustained down move and only a break above 1.6720 would suggest that a short term low is in place.”

“The immediate target is at 1.6540 followed by 1.6440 but based on the current momentum, 1.6440 is likely out of reach for now.”