GBP/USD nears key trendlne resistance
Sterling found bids around 5-dMA and rose to 1.4284 in the NY session. The bird is now just a few pips shy of the falling trend line R @ 1.4305-1.4310. BOE's take on Brexit issue tomorrow is likely to be accompanied bu dovish comments.
- Sterling's failure to take out 1.4310 could trigger a fall to 1.4165. If penetrated, it would shift risk in favor of a drop to 1.4030.
On the higher side, resistance at 1.4566 (Apr 13 low) could be put to test if the spot is successful at taking out trend line R @ 1.4305-1.4310 and close abv 1.4330 (23.6% retrc. of 1.5930-1.3835
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.