GBP/USD has the 1.3920 mark in its crosshairs – Commerzbank
|The GBP/USD pair is starting to erode the near-term downtrend at 1.3821, leaving the focus on the 1.3920 level, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
Cable is holding over the nine-month uptrend
“GBP/USD stays bid while above the nine-month uptrend line at 1.3653 and has started to erode the 1.3821 resistance line to leave attention on the 1.3920 6th April high.”
“Key resistance is seen at 1.4018, the March high and this guards 1.4238/45, the recent high and the March 2018 high.”
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.