+447418397959 | premiuminvestmentservices@gmail.com

GBP/USD: What’s next in store? – Commerzbank

Axel Rudolph, analyst at Commerzbank, notes that GBP/USD trades back around the March peak at 1.3382, having briefly reached 1.3515 post the UK election result last week.

Key Quotes

“Above the high at 1.3515 sits the December 2017 high at 1.3550 and still further up the September 2017 peak at 1.3658 as well as the February 2018 low at 1.3712, all of which are now in focus for the weeks to come.”

“Support is to be found between the 1.3270 late March high and the 1.3217 January peak. There is also support to be seen at the 1.3187 May peak.”

“A daily chart close below the 1.3050 December 12 low would put the 200 day moving average at 1.2699 back on the plate.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Original Article

About the Author

Leave a Reply

*