GBP/USD risks a deeper pullback – UOB – by pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “Our view for the ‘advance in GBP to extend’ was incorrect as it plummeted to 1.2222 before closing on a weak note at 1.2225 . Strong downward momentum suggests further GBP weakness even though the major support at 1.2120 is unlikely to come under threat today . On the upside, a breach of 1.2290 would indicate the weakness in GBP has stabilized.”
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