GBP/USD: Break below 1.2300 can lead to a deeper decline – SocGen GBPUSD Technical Analysis Banks
GBP/USD up move faltered near the trend line drawn since 2021 at 1.2670/1.2750 resulting in an initial pullback. This remains a crucial resistance zone.
A break below 1.2300 can lead to a deeper decline towards 1.2130, the 23.6% retracement from last September and the 200-DMA at 1.2000.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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