Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable extended Friday’s bounce and rose above 1.39 mark in early European trading on Monday but continues to trade within daily cloud (1.3844/1.3957) which started to narrow and will twist later this week.
Break of cloud top would generate bullish signal for renewed attack at psychological 1.40 barrier, above which the pound last traded two months ago.
Revived bullish momentum and daily moving averages in positive setup underpin fresh advance, but mixed fundamentals sour the sentiment.
British minister denied media report that PM Boris Johnson said he would rather let bodies pile high in thousands than order a third economic and social lockdown.
On the other side, BoE’s Deputy Governor Broadbent said he expects very rapid UK growth next couple of quarters.
Res: 1.3928; 1.3949; 1.3957; 1.4000.
Sup: 1.3900; 1.3879; 1.3862; 1.3844.
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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