Browsing: Daily Look

The UK elections are here. How will the pound react?

Here is their view, courtesy of eFXdata:

Credit Suisse discusses GBP/USD technical outlook and flags a scope for further gains upon a break of resistance around 1.3185.

GBP/USD  has also surged higher after completing a bull “triangle” and is now testing pivotal resistance at the 50% retracement of the 2018/2019 fall, April high, potential long term downtrend from 2014 and the 200-week average at 1.3103/85,” CS notes.

A break above here remains needed to mark a broader regime shift higher, which is our bias, with resistance then seen next at the “measured triangle objective” at 1.3276 ahead of current 2019 high at 1.3381, before the 61.8% retracement at 1.3453 and then the “neckline” to the early 2018 top at 1.3712,” CS adds.

For lots more FX trades from major banks, sign up to eFXplus

By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.

Get the 5 most predictable currency pairs


A daily forex forecast for the upcoming events of the day that will impact forex trading ► These forex outlooks are published daily.

1 2 3 4 5 412