The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
GBP/USD likely to see strong volatility
Trading this pair ahead of Super Thursday may not be the wisest move, but it is clear that the $1.44 level remains key support. A break below there may find it hard to get traction, given that the 100-day simple moving average (SMA) and 50-day SMAs lie just beneath it.
If downward momentum does gain traction then the next area to watch will be the rising support line off the February lows, which would suggest buying pressure around $1.4260. Any rally needs to clear $1.4537 in the first instance.