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
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last TimeCrypto analyst TradingShot recently revealed that the Bitcoin price is forming a similar fractal pattern to the one that happened in October 2023. This is bullish for the flagship crypto, considering what happened last year when the fractal pattern formed.
Crypto analyst TradingShot recently revealed that the Bitcoin price is forming a similar fractal pattern to the one that happened in October 2023. This is bullish for the flagship crypto, considering what happened last year when the fractal pattern formed.
Bitcoin (BTC) extends gains, trading above $73,000 at the time of writing on Monday, following a bullish breakout from the consolidation pattern it had been trading since roughly the past six weeks.
Gold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks follow-through and remains close to an over three-week low, touched the previous day.
Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
Related Instrument
