Flash: GBP/USD to test 1.6650? - UOB Group

FXStreet (Barcelona) - The Market Strategy Team at UOB Group note that despite the weak CPI data, GBP managed to hold on to the short-term support at 1.6650 (low of 1.6655).

Key Quotes

“The consolidation phase appears incomplete and further sideway trading is expected today albeit at a lower range. Expect a test towards 1.6630 but this should lead to a recovery towards 1.6730.”

“Only an unexpected break above 1.6760 will suggest a move towards the 1.6823 high seen earlier this week.”