GBP/USD: Break above 1.3700/15 to clear the path towards 1.42 – BofA
|Analysts at Bank of America Global Research are closely monitoring head and shoulder bottom in the GBP/USD pair. In case cable pierces 1.3700/15, sterling could surge as high as 1.42.
Break below 1.3450 to put 1.32/1.3130 back in focus
“If GBP/USD continues to rally and exceeds resistance at 1.37/1.3715 then a head and shoulders bottom will have formed that targets 1.42.”
“Below 1.3450 would be bearish back to 1.32/1.3130.”
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