Cable keeps bullish tone for the second straight day and hit weekly high above 1.33 mark, following minor negative impact from weaker than expected.
UK GDP and improved sentiment on expectations that Omicron may cause limited damage to the economy that revived risk appetite.
Fresh bulls eye pivotal barrier at 1.3337 (50% retracement of 1.3513/1.3161 bear-leg/Daily Kijun-sen), close above which would sideline larger bears and open way for a stronger correction.
Broken 20DMA offers solid support at 1.3266, with close above here required to keep near-term bias with bulls.
Rising 14-d momentum is breaking into positive territory and supporting the action.
Res: 1.3337; 1.3353; 1.3379; 1.3430.
Sup: 1.3266; 1.3240; 1.3197; 1.3164.
Interested in GBP/USD technicals? Check out the key levels
- R3 1.3367
- R2 1.3319
- R1 1.3294
- PP 1.3246
- S1 1.3221
- S2 1.3173
- S3 1.3148
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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