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- GBP/USD to challenge major resistance at 1.3473/1.3514 - Credit Suisse
GBP/USD to challenge major resistance at 1.3473/1.3514 - Credit Suisse
FXStreet reports that economists at Credit Suisse apprise that GBP/USD is expected to see a break above 1.3310/19 for a test of long-term resistance at 1.3473/1.3514.
“GBP/USD is pushing steadily higher as expected after being supported above its 13-day average, now at 1.3162 and we remain of the view the recent pullback has been corrective only ahead of a retest of resistance at 1.3310/19 – the 78.6% retracement of the September fall.”
“Beyond 1.3310/19 should reassert the rally for a move to 1.3403/09 next and eventually back to long-term price and ‘neckline’ resistance at 1.3473/1.3514. Above here, which we eventually look for is needed to see a major base secured, clearing the way for a move above 1.4300.”
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