GBP/USD to retest its 1.2447/49 December and January highs – Credit Suisse GBPUSD Banks
“GBP/USD is attempting to push above the 1.2270 mid-February high and downtrend from February 2022. We continue to look for a sustained break to clear the way for a fresh look at the 1.2447/49 YTD highs, where we would look for a fresh cap again. Should strength directly extend though we would see resistance next at 1.2668/1.2783 – the May 2022 high, 61.8% retracement of the 2021/2022 fall and long-term downtrend from May 2021.
“Support at 1.2009 now ideally holds to keep the immediate risk higher. A break can see a retest of the 200-DMA, currently at 1.1895.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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