Gbp/usd Weekly Technicals

Gbp/usd Weekly Technicals


Quotes from RBS:
-The reliable support level around 1.5299 held! So despite the very long term picture being stuck in a 1.53/1.65 range the bias for the next move within there is GBP positive back to the 1.6050 area.
-1.5299 held, just as it has a number of times since 2010! I (analyst) think the story will become a lot more positive surrounding GBP over the coming weeks and indeed for the rest of the quarter. The previous low at 1.5606 has just begun to be a sticky resistance level here but I think stop losses tucked underneath 1.5299 targeting 1.6041/70 look like good risk/return metrics for a more medium term trade. Should I be wrong then the level to be aware of for support is 1.5070.


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