#GBPUSD @ 1.15683 to extend its race higher towards the 1.1820 mark – OCBC
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GBP/USD extends its run higher. The break past 1.1540 opens up further gains towards 1.1820 levels, analysts at OCBC Bank report.
“For now, it appears that markets are giving Sunak-Hunt the benefit of doubt to come up with a plan to demonstrate that the new government is committed to fiscal discipline.”
“Next resistance at 1.1540 (61.8% fibo retracement of Aug high to Sep low). Decisive break out of those levels may see GBP extend gains towards 1.1820 levels.
“Support at 1.1390 (50DMA), 1.1310 (50% fibo) and 1.1220 (21 DMA).”
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