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Nov 26 - 04:55 AM

GBP/USD - This Is Why GBP/USD 1.3400 Is Proving Very Tough To Crack

By Richard Pace  —  Nov 26 - 02:40 AM
  • Major trendline from 2007 and 2014 highs now at 1.3407

  • Adding resistance to alleged 1.3400 FX option barriers/defence

  • Monday's high 1.3396, peaked 1.3399 so far today

  • Weak USD limits setbacks, but more longs might book if resistance holds

  • Buying dips still favoured on any pull back, for eventual break higher

  • Bigger barriers/resistance surround 1.3500 - Dec 2019 peak 1.3516


GBP=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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