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Apr 27 - 10:55 AM

GBP/USD: Below 1.3809 Needed To Negate 'Double Bottom', Above 1.3950 To Assert Upward Bias - Credit Suisse

By eFXdata  —  Apr 27 - 09:30 AM

Credit Suisse discusses GBP/USD technical outlook and highlights the importance of the 1.3809 level, and the 1.3950 level for near-term directional bias.

"Below 1.3810/09 though remains needed to see this fully negated in our view to reinforce the broader sideways range again, albeit with an immediate downside bias. Support would then be seen next at the recent “reversal day” low at 1.3717, below which can clear the way for a retest of the lower end of the sideways range at 1.3670/69," CS notes.

"Above 1.3950 remains needed to reassert an upward bias and clear the way for a retest on the top of the range at 1.4001/17. Beyond here would now see a more convincing base established

Source:
Credit Suisse Research/Market Commentary

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