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- GBP/USD maintains an upside bias for the 2021 high at 1.4237 – Credit Suisse
GBP/USD maintains an upside bias for the 2021 high at 1.4237 – Credit Suisse
FXStreet reports that the Credit Suisse analyst team discusses GBP/USD prospects.
“GBP/USD maintains its latest breakout above the 1.4155/69 May highs and a sharply accelerating daily MACD momentum, which keeps our bias directly higher. Beyond here can see a move to next resistance at the 1.4238 YTD high, ahead of our first core upside target of 1.4302/77 – the 2018 highs and 50% retracement of the 2014/2020 bear trend.”
“It is worth noting that above the 1.4302/77 levels, there is a real ‘air pocket’ and death of meaningful technical resistance, reinforcing our longer-term bias for an eventual move to 1.49/1.51.”
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