GBP/USD to break past the 1.2450 area post rangebound phase – Credit Suisse GBPUSD Banks
“Cable continues to hold support from the 200-DMA at 1.1927 as looked for, never mind the key 1.1841 January low, and we continue to look for this to hold to keep the market trapped in a range of ~1.1850-1.2450.”
“A break below 1.1841 at any stage would complete a bearish ‘double top’ to signal a much deeper sell-off, and likely a stronger USD rally more broadly, with support seen next at 1.1646.”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.
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