What is the technical outlook for GBP/USD?
Here is their view, courtesy of eFXdata:
UOB Research discusses GBP/USD technical outlook and sees a scope for a move towards 1.4240 ahead of 1.4377.
“The prospect for GBP/USD to move clearly above 1.4240 is not high for now but it would increase as long as GBP/USD does not breach the rising trend-line (currently at 1.3760),” UOB notes.
“Looking ahead, the next resistance above 1.4240 is at the 2018 high of 1.4377. From the perspective of longer than 3 months, the outlook for GBP/USD is deemed to be positive as long as the 55-week exponential moving average is not breached,” UOB adds.
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