BofA: GBP/USD technical outlook – Secular downtrend breaking, potential rally to 1.40 ...Middle East

Bank of America observes that GBP/USD is starting to break its secular downtrend, which has been in place since 2008. Recent technical signals suggest a potential rally towards 1.40, contingent on a sustained break above key resistance levels and the 200-week SMA.Key Points:Secular Downtrend: GBP/USD has been in a secular downtrend since 2008, attempting to break higher three times in the last 18 months but failing.Technical Resistance: Previous bearish bias was suggested while GBP/USD remained below resistances in the 1.2850-1.29 area, targeting declines to 1.2450 and potentially 1.21.Impulsive Move: An impulsive move through these resistance levels could signal the end of the secular decli

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