GBP/USD has surged above 1.33 after bouncing from the 55-day ma at 1.3137. Nevertheless, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, still looks at the five-month uptrend at 1.3056 which remains key to sustain the upside pressure. Key quotes “GBP/USD sold off on Friday following the failure at tough resistance at the 1.3500/1.3540 recent high and December 2019 high. It has bounced from the 55-day moving average at 1.3137, but this has not been enough to restore the up move and, for now, the five-month uptrend at 1.3056 remains pivotal.” “Below the five-month uptrend would negate upside pressure and target 1.2855 2nd November low and the 200-day ma at 1.2752.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Yearn.Finance Price Forecast: YFI correction to $22,000 catches momentum FX Street 2 years GBP/USD has surged above 1.33 after bouncing from the 55-day ma at 1.3137. Nevertheless, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, still looks at the five-month uptrend at 1.3056 which remains key to sustain the upside pressure. Key quotes “GBP/USD sold off on Friday following the failure at tough resistance at the 1.3500/1.3540 recent high and December 2019 high. It has bounced from the 55-day moving average at 1.3137, but this has not been enough to restore the up move and, for now, the five-month uptrend at 1.3056 remains pivotal.” “Below the five-month uptrend would negate upside… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
