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GBP/USD: Late April Upside Risk

Published 04/23/2014, 11:41 AM
Updated 12/12/2023, 05:55 AM

GBP/USD bullish tone and extension bias

  • A push to a new recovery high last week and a subsequent resilient tone leaves the threat still higher into this week.
  • We still target another new cycle high this week and aim for a longer term level at 1.6877.
  • The risk for late April is now still higher to psychological 1.7000 and the multi-year high from 2009 at 1.7042.

WHAT CHANGES THIS?

  • Below 1.6625 eases bull risks; through 1.6550 signals a neutral tone, only shifting negative below 1.6465.

Monthly GBP/USD

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