GBP/USD neutral, within 1.4350-1.4630 – UOB

In view of the research team at UOB Group, GBP/USD could remain in a consolidative theme likely between 1.4350 and 1.4630.

Key Quotes

“The anticipated GBP weakness exceeded our expectation by taking out the 1.4465/70 support (low of 1.4447). With no signs of stabilization just yet, further decline appears likely but at this stage, a move below 1.4410 is not expected. On the upside, only a move back above 1.4525 would indicate that the downward pressure has eased”.

“GBP continues to trade choppily and we maintain our neutral view from here. Further whippy trading is still expected in the days ahead, likely within a broad 1.4350/1.4630 range”.