- Analytics
- News and Tools
- Market News
- GBP/USD to test the 200-DMA at 1.2701 - Credit Suisse
GBP/USD to test the 200-DMA at 1.2701 - Credit Suisse
FXStreet notes that GBP/USD weakness was well supported on Friday, holding high level price support at 1.2568/66. The immediate risk stays seen higher for a test of key resistance from the 200-day average at 1.2701, analysts at Credit Suisse apprise.
“Immediate resistance remains seen at 1.2681/88, above which and we then see the 200-day average at 1.2701. Whilst we would expect fresh sellers here, a break can expose the downtrend from late last year, currently seen at 1.2737, with the ‘measured base objective’ seen at 1.2808. With the June high and 78.6% retracement of the decline from late last year just above at 1.2813/17, we would expect fresh sellers here.”
“Support moves to 1.2621 initially, with a break below 1.2566 needed to rekindle thoughts of a pullback with support next at the 13-day average at 1.2542, then the ‘neckline’ to the base and 38.2% retracement of the rally from late June at 1.2519/09.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
