#GBPUSD @ 1.25138 to inch higher gradually towards 1.2610/1.2670 – SocGen
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GBP/USD recently gave a break above the sideways consolidation during December and March affirming extension in bounce. Gradual up move should persist, in the view of economists at Société Générale.
“Cable is gradually inching towards the down sloping trend line drawn since 2021 near 1.2610/1.2670. This could be an interim resistance zone. If the up move falters near this hurdle, a short-term pullback is likely.”
“The 50-Day Moving Average at 1.2270 is a crucial support. Break could result in a deeper down move.”
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