GBP/USD: Uptrend to persist towards 1.2550/1.2600 on a move above 1.2450 – SocGen GBPUSD Banks
has retested the peak of 1.2450 resulting in a brief pause. A break past this level is set to resume the race higher towards 1.2550/1.2600 and 1.2750, economists at Société Générale report.“Daily MACD is at a much lower level as compared to previous high denoting receding upward momentum. However, signals of an extended pullback are not yet visible.”
“Ongoing pause could be short-lived. Once the pair reclaims 1.2450, the uptrend is likely to persist towards 1.2550/1.2600 and 1.2750, the 61.8% retracement from 2021.”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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