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
TradingKey 2025 Markets Recap & Outlook | Global Central Banks 2025 Recap and 2026 Outlook: Navigating Post-Easing Recovery and Diverging PathsIn 2025, major central banks globally generally maintained an accommodative stance, but the pace of policy adjustment slowed significantly. As inflation gradually came under control and e
In 2025, major central banks globally generally maintained an accommodative stance, but the pace of policy adjustment slowed significantly. As inflation gradually came under control and e
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Silver price (XAG/USD) rallies further to near $72.70 during the early European trading session on Wednesday.
Bitcoin is predicted to potentially hit $100,000 following a significant options expiry valued at $23.7 billion.
After failing to turn the $90,000 area, Bitcoin (BTC) continues to move within its local range with apparent no clear direction. Some market observers have suggested that the flagship crypto will
