Market news
09.07.2021, 11:17

GBP/USD to tackle important support at 1.3669/48 below 1.3734 - Credit Suisse

FXStreet reports that analysts at Credit Suisse note that GBP/USD  holds a bearish “outside day” to leave the cable at risk of a fall back to 1.3734, then more important support at 1.3669/48.

“Beneath Friday’s low at 1.3734 should then see a test of what we see as more important support at 1.3669/48 – the April low, 38.2% retracement of the rally from September and rising 200-day average. We would look for a fresh and ideally important floor here.”

“Resistance stays seen at 1.3816 initially, then 1.3734, with the immediate risk seen staying lower whilst below 1.3865/99. Above though can reassert a recovery bias for a move back to 1.4000/10.”

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