GBP/USD could visit 1.3270 – UOB

GBP/USD could extend its current upside bias to the 1.3270 area, according to the research team at UOB Group.

“While we anticipated a corrective rebound to 1.3170, the pace of the up-move was unexpected”.

“The high has been 1.3186 so far and with no signs of weakness just yet, the current GBP strength appears to have room to extend further to 1.3270 even though the odds for such a move are clearly lower (an unlikely clear break above 1.3270 would indicate that GBP has entered a bullish phase)”.

“All said, this pair is expected to stay underpinned in the next few days unless there is a move back below 1.3020”.