GBP/USD: short-term technicals as neutral/bullish - Scotiabank
|Analysts at Scotiabank note GBP/USD short-term technicals as neutral/bullish.
Key Quotes:
"Sterling has edged back a little from the overnight high, with the 1.4085/00 area still capping GBP gains.
The overall technical picture looks positive for Cable, however; the pound broke above its 40-day MA this week and is sustaining the break out from the 2018 consolidation (bull wedge pattern).
Bullish trend signals are aligning on the short, medium and longer run charts, suggesting 1) limited downside movement and 2) an ongoing, underlying bid tone to price action.
Above 1.41 is positive for gains towards 1.4250/1.4350."
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.