Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Apr 12 - 07:55 AM

GBP/USD - Longs In Trouble After 1.25 Break

By Justin Mcqueen  —  Apr 12 - 05:50 AM
  • Cable now trading at lowest level since Nov 2023 after 1.25 break

  • Given build up of positions between 1.26-1.28, GBP longs are offside

  • Position cleansing of longs can fuel deeper setback

  • Little in the way of support until 1.2430-50

  • Resistance at 200-DMA (1.2584) as break below holds - retest capped

  • Watch daily close. Below 1.25 would add to downside momentum

  • Next week is key for GBP - UK CPI, jobs and retail sales data due

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!