- Analytics
- News and Tools
- Market News
- GBP/USD: Corrective phase to test support at 1.3840/30 - Credit Suisse
GBP/USD: Corrective phase to test support at 1.3840/30 - Credit Suisse
FXStreet notes that GBP/USD has reversed sharply lower for a break of not only near-term price support at 1.4082/79 but also the rising 13-day exponential average. Economists at Credit Suisse see scope for further but still corrective weakness to 1.3840/30, with a fresh floor looked for here.
“Support moves to 1.3910/02 initially, below which should then see a move to price and trend support at 1.3840/30. We would then look for an attempt to find a floor here for a resumption of the core uptrend.”
“Resistance is seen at 1.3971 initially, with a move above 1.4022/29 needed to ease the immediate downside bias. Above 1.4182 though is needed to suggest the correction is over for strength back to 1.4237, then 1.4302/77.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
