GBP/USD: On course to retest and eventually break above the 1.2447/49 highs – Credit Suisse GBPUSD Banks
continues to push strongly higher. Economists at Credit Suisse expect the pair to break above the 1.2447/49 December and January highs.“We stay bullish for a fresh look at the 1.2447/49 December and January highs. Whilst this should continue to be respected, we are biased to an eventual break of resistance next at 1.2668/1.2768 – the May 2022 high, 61.8% retracement of the 2021/2022 fall and long-term downtrend from May 2021.
“Support at 1.2190/57 now ideally holds to keep the immediate risk higher. A break can see a fall back to 1.2009.”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. You should do your own thorough research before making any investment decisions.
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