Economists at Société Générale analyze GBP/USD technical outlook.
Last week's high of 1.2870 must be overcome to affirm a larger up-move
GBP/USD has embarked on a phase of pullback after facing stiff resistance near the upper limit of a multi-month channel near 1.3180. It is now challenging the lower band of this channel and is close to late June low of 1.2600/1.2570 which is a crucial support.
An initial bounce is expected however last week's high of 1.2870 must be overcome to affirm a larger up-move.
Failure to defend 1.2600/1.2570 could mean risk of a deeper drop; next potential supports could be at 1.2480 and 200-DMA at 1.2300.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
