GBP/USD is bouncing higher near-term and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, believes the cable may be ready to resume its up move. Key quotes “GBP/USD is seeing a small bounce higher – it has failed to maintain the break of its two-month uptrend (we have re-drawn it for now and it lies at 1.3827) and is currently underpinned by the 55-day ma at 1.3758.” “We are beginning to wonder if the market is ready to resume its up move and we are going to retry long positions? The six-month uptrend is not encountered until 1.3465.” “Immediate overhead resistance is offered by the 20-day ma at 1.3945. Above here lies 1.4018 (last week’s high), and this guards 1.4238/44 (the recent high).” 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 USD/CAD consolidates the downside around 1.2600 amid a pause in WTI rally FX Street 1 year GBP/USD is bouncing higher near-term and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, believes the cable may be ready to resume its up move. Key quotes "GBP/USD is seeing a small bounce higher - it has failed to maintain the break of its two-month uptrend (we have re-drawn it for now and it lies at 1.3827) and is currently underpinned by the 55-day ma at 1.3758." "We are beginning to wonder if the market is ready to resume its up move and we are going to retry long positions? The six-month uptrend is not encountered until… 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.
