FXstreet.com (Barcelona) - “The recent GBP outperformance on the crosses looks increasingly likely after the good data yesterday and the short-term break in the GBP/USD medium-term chart. However, we are still not going to recommend outright GBP/USD longs when before a sustained break to the upside.” writes Technical Markets Strategist William Moore at RBS.
“Our bias is that this quarter will not manage to trade above the 1.6300 resistance level and that still the medium-term trade as highlighted below stands. Our short-term fade levels lie at 1.6146/83 as well as 1.6266 at a push. We also note supportive means at 1.6070, 1.6011, and finally 1.5951.
“Our bias is that this quarter will not manage to trade above the 1.6300 resistance level and that still the medium-term trade as highlighted below stands. Our short-term fade levels lie at 1.6146/83 as well as 1.6266 at a push. We also note supportive means at 1.6070, 1.6011, and finally 1.5951.
