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Feb 21 - 12:55 PM

GBP/USD: Chart: On Watch For Double Top; Where To Target? - BofA

By eFXdata  —  Feb 21 - 10:45 AM

Bank of America Global Research discusses GBP/USD technical outlook and sees a scope for a move towards 1.14/1.12 over the coming weeks.

"The daily chart of GBP vs USD shows potential for a double top pattern to be confirmed should the trough between the last two peaks break. This threshold is 1.1842. If it does, we estimate downside to 1.14/1.12," BofA notes.

"Until support breaks, the trend is still range bound between 1.19-1.24," BofA adds. 


BofA Global Research


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