GBP/USD: bullish sentiment developing - UOB

Analysts at UOB Group explained that the recent short-term weakness in GBP/USD has not only stabilized but the strong rally over the past 2 days has shifted the nearterm risk to the upside.

Key Quotes:

"The key level to watch is at 1.3250 (trend-line connecting the peak in July and early August) as a break above this level would strongly indicate the start of a sustained up-move towards 1.3370. Strong support is at 1.3100 but only a move back below 1.3040 would indicate that the short-term upward pressure has eased."