GBP/USD can move towards 1.3150/1.3175 in the short term – Société Générale
Source Fxstreet
GBP/USD crossed above a steep descending channel and evolved within a small base, Société Générale's FX analysts note.
Daily MACD is at multi-month highs denoting a stretched move
"It broke out from this range in February leading to a steady up move. Last November peak of 1.3045 is first hurdle. Daily MACD is at multi-month highs denoting a stretched move. If a short-term decline develops, 1.2810/1.2780, the 23.6% retracement from January could be an important support zone. Beyond 1.3045, next projections would be located at 1.3150/1.3175."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session on August 11, gold prices (XAUUSD) briefly topped $4,400 intraday, reaching a high of $4,435.2, its highest level since June 5. However, gains subsequently narr
West Texas Intermediate (WTI) oil price moves little after registering gains over 6.5% in the previous day, trading around $81.40 during the Asian hours on Tuesday.
Gold Price Forecast: Gold Rises as Nonfarm Payrolls Unexpectedly Turn Negative; Can CPI and PPI Help Break $4,500? As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
The ongoing US-Iran conflict has entered a crucial diplomatic phase, with intense fighting and strategic pressure around the vital Strait of Hormuz continuing to drive the dynamic of the war.
As of the European session on August 7, gold prices ( XAUUSD) extended their recent strong performance, rising over 1% intraday to briefly cross the $4,300 mark. With a cumulative gain of
Related Instrument
