#GBPUSD @ 1.18800 : Target for double top pattern is near 1.1230/1.1150 – SocGen
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
GBP/USD is sliding towards 1.18 after erasing 1.1906 (200-Day Moving Average). The pair is at risk of a deeper down move, analysts Société Générale report.
“GBP/USD formed a double top after struggling to reclaim December high near 1.2450. This has resulted in a steady pullback leading the pair below the 200-DMA. It is now challenging the neckline of the formation denoting risk of a deeper down move.”
“Failure to reclaim recent pivot high at 1.2065 could mean persistence in decline towards 1.1770 and projections of 1.1640/1.1610. Target for the pattern is near 1.1230/1.1150.”
[/s2If]
Join Our Telegram Group
