Pound to Rise as Charts Show ‘Acceleration’: Technical Analysis
This article is for subscribers only.
The pound may strengthen to a two-month high against the dollar after the U.K. currency remained above its 20-day moving average, Ueda Harlow Ltd. said, citing trading patterns.
Sterling is also poised to extend gains after climbing above its 60-day moving average, a key level of resistance where sell orders may be clustered, said Toshiya Yamauchi, a senior foreign-exchange analyst at the online currency-trading company. An ichimoku chart, a technical indicator used to gauge momentum, also points to further strength, he said.