Market news
29.04.2021, 11:19

GBP/USD: Poised to test the March highs at 1.4001/17 - Credit Suisse

FXStreet reports that GBP/USD remains above price support at 1.3810/09 as well as its rising 55-day average and economists at Credit Suisse look for a retest of key price resistance at 1.4001/17, with a move above here needed to mark a more convincing base.  

“With resistance at 1.3950 broken, cable reasserts an immediate upward bias in the broader range and we look for a retest of the March highs at 1.4001/17.” 

“Beyond the March highs at 1.4001/17 remains needed to see a more convincing base established to reinforce our core longer-term bullish view following the completion of a much larger base above 1.3514 late last year. We would then look a move back to the 1.4238 high initially ahead of our first core upside target of 1.4302/77 – the 2018 highs and 50% retracement of the 2014/2020 bear trend.” 

“Support moves to 1.3939/33 initially, with 1.3891 now ideally holding to keep the immediate risk higher in the range."

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location