GBP/USD: technical outlook from banks
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Commerzbank
Commerzbank’s analysts remain their neutrally positive technical outlook for GBP/USD in the short-term. Last week, the pound reached 1.2966, then, moved into the consolidation phase. As long as the pound is trading above the April 21st low (1.2755) we can’t talk about the imminent reversal of the current short-term bullish trend.
BofA Merrill Lynch
The bank’s analysts got inspired by the idea of the snap election in the UK and turned positive on the GBP/USD.
The pair is trading above 200-day MA (1.2607). The current rally can be exhausted at around 1.3000. A drop below 1.2608 may send quotes lower towards 1.2515 (April 18 low), or towards 1.2346 (February low).
Credit Suisse
is long on the GBP/USD from 1.2934 with take-profit at 1.3120 and stop-loss at 1.2759.
