The rebound in GBP/USD has been capped at a cluster of resistances which include its 200-day common (DMA) at 1.3802. The subsequent completion of a bearish “reversal day” is anticipated to clear the way for a retest of key guide at 1.3571/67, the Credit Suisse analyst group reports.
See – GBP/USD: The 1.40 degree is out of sight – Rabobank
Resistance at 1.3769/71 now caps
“We suppose the current power has been corrective only. Indeed, under aid at 1.3693, GBP/USD has viewed a minor pinnacle whole and we appear for a fall lower back to the current low and viable fashion aid at 1.3608/01.”
“Bigger picture, key guide stays considered at the July low and 23.6% retracement of the whole 2020/2021 uptrend at 1.3571/67 elimination of which can set up a principal pinnacle with aid then viewed subsequent at 1.3520/14.”
“Near-term resistance strikes to 1.3712, then 1.3736, with 1.3769/71 ideally now capping to maintain the immediately hazard lower. Above can see a pass returned to the 200-DMA at 1.3802 however with the 55-DMA now additionally no longer a long way above right here at 1.3835, sparkling agents would be anticipated here.”
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