#GBPUSD @ 1.22768 : Up move could extend towards 1.2750 on a break past 1.2450 – 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 has risen close to the 1.2450 mark. A break above here is needed to avoid a phase of pullback, economists at Société Générale report.
“1.2450 is the lower end of the multi-year range from which the pair broke down earlier this year and it is expected to be an intermittent resistance zone. A test and failure to cross above this hurdle could result in a phase of pullback. The October high of 1.1500, which is also the 50DMA, is expected to be first layer of support in case a decline develops.”
“If the pair establishes itself beyond 1.2450, the up move could extend towards 1.2750, the 61.8% retracement from February 2021 and 1.3250/1.3300.”
[/s2If]
Join Our Telegram Group
