GBP – Sterling remains stable, supported by inflation and trade deal with Europe and the US

As for the trend of GBP/USD, the technical chart shows that the RSI and stochastic index are rising, and the MACD has broken through the signal line. The exchange rate has been in a consolidation posture in the previous few weeks. Therefore, after clearly breaking through the 1.34 level last week, it is expected that the pound will extend another wave of rise. It is expected that the current resistance will first be 1.3650 and 1.3750, and then will be seen at 1.38 and 1.40 levels. Support looks back at 1.34 and the 25-day moving average of 1.3330, with larger support expected to be at 1.3250 and 1.3130 levels.

Estimated range:
Resistance 1.3650 – 1.3750 – 1.3800 – 1.4000*
Support 1.3400 - 1.3330 - 1.3250 - 1.3130

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