Search ForexCrunch

What is the technical outlook for GBP/USD?

Here is their view, courtesy of eFXdata:

UOB Research discusses GBP/USD technical outlook and sees a scope for a move towards 1.4240 ahead of 1.4377.

“The prospect for GBP/USD to move clearly above 1.4240 is not high for now but it would increase as long as GBP/USD does not breach the rising trend-line (currently at 1.3760),” UOB notes.

“Looking ahead, the next resistance above 1.4240 is at the 2018 high of 1.4377. From the perspective of longer than 3 months, the outlook for GBP/USD is deemed to be positive as long as the 55-week exponential moving average is not breached,” UOB 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.