GBP/USD rises to 1.3130, up 0.26% on a day, and is on course for the five-year resistance line at 1.3175, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
“GBP/USD has maintained upside pressure and is poised to reach the 1.3175 the 2015-2020 downtrend. The 1.3201 March 2020 high lies just above here and we would allow for this to hold the initial test.”
“Dips lower are expected to find initial support at the 1.2814 June high ahead of 200-day ma at 1.2701 and remain contained by the 1.2529 support line.”
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.