GBP/USD bearish, 1.4090 on the cards – UOB

GBP remains under pressure today, opening the door for a potential test of 1.4090 vs. the greenback, according to analysts at UOB Group.

Key Quotes

“GBP exceeded the 1.4140 support to touch a low of 1.4117 before staging a strong rebound to test the major 1.4330 resistance. The subsequent swing lower from the high has resulted in a mixed outlook for today and further whippy trading seems likely”.

“There is no change to the bearish GBP view and we continue to anticipate a move towards the immediate target of 1.4090 (overnight low of 1.4117)”.