#GBPUSD @ 1.24564 : Moving to new highs for the year, eyes on tough resistance at 1.2668/1.2758 – Credit Suisse
…
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 already moved above the 1.2447/49 highs of December and January. Analysts at Credit Suisse stay bullish for what they look to be tougher resistance at 1.2668/1.2758, which includes its downtrend from May 2021.
“With a bullish moving average ‘golden cross’ in place we maintain our core positive outlook for resistance next at 1.2668/1.2758 – the May 2022 high, 61.8% retracement of the 2021/2022 fall and long-term downtrend from May 2021. Our bias would then be to look for a cap here for a fresh phase of consolidation. Should strength directly extend though, we see resistance next at 1.2894, then 1.3000.”
“Support at 1.2274 now ideally holds to keep the immediate risk higher. A break can see a fall back to 1.2190/70 but with fresh buyers expected here.”
[/s2If]
Join Our Telegram Group
