GBP/USD: Technicals: Sum Of The Parts = Bullish GBP; Staying Long – BofAML

Apr 05,2019 19:07   Source:Forex Crunch

GBP/USD continues trading around 1.3100 amid an official request to extend Brexit once again. What’s next?

Here is their view, courtesy of eFXdata:

Bank of America Merrill Lynch Research discusses GBP/USD technical outlook and maintains a bullish bias, expressing that via holding a long position* from 1.3080.

“We conclude a bullish bias for GBP given multiple time frame charts favor higher GBP/USD, most weekly charts of GBP crosses have based and are in young upward sloping channels. According to a head and shoulders base, the GBP/USD rally from the December low could extend to 1.39-1.4285,” BofAML notes. 

Key to this view is a breakout > 1.3298-1.3363 resistance and remaining above 1.2770,” BofAML 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.

The post GBP/USD: Technicals: Sum Of The Parts = Bullish GBP; Staying Long – BofAML appeared first on Forex Crunch.



沪ICP备13043996号-3  TradeQQ Media Group 汇讯通