GBP/USD to climb toward 1.3400 on a break above 1.3360

FXStreet Insights Team FXStreet

GBP/USD seems to have set near-term bottom around 1.3300. In the view of FXStret’s Eren Sengezer, cable could eye 1.3400 as next recovery target.

UK doesn't think tighter rules will be needed to combat the new coronavirus variant

“On Monday, the junior UK health minister Edward Argar said that they don't expect rules to be tightened further in the next three weeks.”

“GBP/USD is facing static resistance at 1.3360. In case a four-hour candle closes above that level, buyers could target 1.3400 (psychological level, 50-period SMA on the four-hour chart) and 1.3430 (100-period SMA).”

“Supports are located at 1.3320 (static level, 20-period SMA), 1.3300 (psychological level) and 1.3280 (2021-low).”

See – GBP/USD: Further downside for cable next year as the UK economy appears to be challenging – HSBC

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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