- Analytics
- News and Tools
- Market News
- GBP/USD: scope for a drop to 1.3570/10 – SocGen
GBP/USD: scope for a drop to 1.3570/10 – SocGen
FXStreet reports that analysts at Societe Generale discuss GBP/USD prospects.
“GBP/USD struggled to reclaim 1.4240 in June forming a double top. A steady decline has brought it towards the 200-DMA and more importantly, it is now threatening a breakdown from the formation. Signals of an extended bounce are still not visible.”
“So long as last week's high at 1.3910 remains unchallenged, the downward momentum could persist.”
“Next objectives will be at projections of 1.3570 and graphical levels of 1.3510. Target for the double top is located at 1.3150/1.3130.”
© 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
