GBP/USD looks capped by 1.3977/1.4018 – UOB

Pablo Piovano FXStreet

Cable’s upside still appears limited by the 1.3977/1.4018 band, suggested Commerzbank’s Senior FICC Technical Analyst Axel Rudolph.

Key Quotes

“GBP/USD continues to be side-lined above the 2020-2021 support line at 1.3790 but belowthe 55 day moving average at 1.4014.”

“Below 1.3784 the March and April lows can be found at 1.3670/69.”

“Minor resistance between the March and April highs and mid-May low at 1.3977/1.4018 is expected to continue to cap.”

“Further up sit the 1.4082/91 late May and early June lows.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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