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- GBP/USD looks capped by 1.3977/1.4018 - UOB
GBP/USD looks capped by 1.3977/1.4018 - UOB
FXStreet reports that Commerzbank’s Senior FICC Technical Analyst Axel Rudolph suggests that Cable’s upside still appears limited by the 1.3977/1.4018 band.
“GBP/USD continues to be side-lined above the 2020-2021 support line at 1.3790 but below the 55-day moving average at 1.4014.”
“Below 1.3784 the March and April lows can be found at 1.3670/69.”
“Minor resistance between the March and April highs and mid-May low at 1.3977/1.4018 is expected to continue to cap.”
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