Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable surged through psychological 1.30 barrier and hit its highest in one year on Wednesday, after hotter than expected UK June inflation data tempered expectations for first BoE rate cut in next month policy meeting.
Fresh strength after a two-day pause for consolidation signals continuation of broader uptrend however, close above 1.30 level is required to confirm signal and focus targets at 1.3050 and 1.3100/20.
Strongly overbought daily studies warn that bulls may lose traction, with limited dips (ideally to be contained by 1.30 support and not to exceed 1.2940 higher low) to offer better levels to re-enter bullish market.
Res: 1.3050; 1.3100; 1.3120; 1.3141.
Sup: 1.3000; 1.2966; 1.2940; 1.2893.
Interested in GBP/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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