GBP / USD is starting to erode the February high of 1.4238 / 45. Karen Jones, Head of Commerzbank’s Technical Analysis Research Team, expect the pound to target 1.4377, the 2018 high.
Bullish trend at 1.3861 underpins the pound
“The GBP / USD is starting to erode the 1.4238 / 45 zone, the recent high and the high of March 2018. The 20-day moving average offers close support at 1.4115 and as long as it is above this level, upward pressure will continue. “
“Close support is 1.4000 / 18 and uptrends are at 1.3861 and 1.3926.”
“The long-term view will remain positive as long as the pair is above bullish trends. Eventually we look for gains if 1.4245 is exceeded towards 1.4377 the 2018 high. “
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