GBP Crosses are Driving the Currency – Lloyds Bank
Research Team at Lloyds Bank, suggests that the GBP crosses are driving
the currency, which has seen GBP/USD push back through the 1.42/1.4250
pivot region.
Key Quotes
“While upper
range resistance lies at 1.44/1.45, we see interim channel resistance
lying at 1.4360. 1.40-1.3980 is still the main important support region
ahead of the 1.3835/1.35 key range lows.
Medium term, we expect
the market to continue to trade a range between 1.3850-1.35 support and
1.45-1.48 resistance. Should we see a breakdown through 1.35, then we
have little in the way till meaningful support in the 1.2800 region,
while a move up through 1.48/1.50 would suggest the 1.40-1.35 support
that has held for the last 30-years has again held.”
