GBP/USD: Monitoring A Regime Change; Targeting 1.3180, 1.3276, 1.3381, 13453, 1.3712 – Credit Suisse

0

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

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

Comments are closed.