GBP/USD: Move beyond 1.2450 essential for affirming a larger uptrend – SocGen GBPUSD Banks
In the view of analysts at Société Générale, a rally beyond 1.2450 is crucial to affirm uptrend on GBP/USD.“Recent peak at 1.2450 is expected to be an intermittent resistance. Failure to cross above this hurdle can result in a phase of pullback.”
“A move beyond 1.2450 would be essential for affirming a larger uptrend. In case this crossover materializes, the up move could persist towards 1.2750, the 61.8% retracement from February 2021 and 1.3250/1.3300.”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.
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