#GBPUSD @ 1.22864 : Beyond 1.2450, next hurdles are located at 1.2610 and 1.2750 – SocGen
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GBP/USD touched its highest level since early June near 1.2450 on Wednesday but lost its traction. Economists at Société Générale highlight next resistance levels for the pair.
“Daily MACD has turned flattish highlighting receding upward momentum however a meaningful pullback remains elusive.”
“The 200DMA at 1.2100/1.2050 is an important support; in case this gets violated there could be a risk of a short-term down move.”
“Beyond 1.2450, next potential hurdles are located at the upper limit of a multi month channel at 1.2610 and 1.2750.”
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