Home GBP/USD set to target 2018 highs at 1.4377 – Commerzbank

GBP/USD set to target 2018 highs at 1.4377 – Commerzbank

Updated: 11 May. 2021 | 08:46

GBP/USD is hovering above 1.41. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects cable to continue its climb and reach the 2018 high at 1.4377.

Bullish above uptrend at 1.3760

“GBP/USD has eroded 1.4018 and is on target for 1.4238/45, the recent high and the March 2018 high.”

“Cable remains bid while dips hold above the uptrend at 1.3760. We have an additional support line at 1.3819 and only below the uptrend at 1.3760 would we question our bullish stance.”

“Our longer term target is 1.4377 the 2018 high.”

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