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GBP/USD   is approaching the 1.4238/45 February high. Above here, cable would target the 1.4377 2018 high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

See:  GBP/USD set to drop below the 1.40 mark later in the year – Rabobank

Uptrend at 1.3800 underpins cable

“GBP/USD is holding above 1.4000 and attention is on 1.4238/45, the recent high and the March 2018 high and these are now exposed.”

“Cable remains bullish while dips hold above the uptrend at 1.3800. We have an additional support line at 1.3861 and interim support at 1.4000/18.”  

“We note the strong buy signal on the daily DMI and look for gains through here to 1.4377 the 2018 high.”

 

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