In the opinion of Credit Suisse analysts, GBP/USD will remain below December highs for now (1.2445/47).
Support at 1.2204 and then at 1.2169
“We stand by our view that the December high in 1.2245/47 is likely to remain a hard barrier and therefore we continue to expect this level to cap the upside for now, even if the broader trend still looks higher.”
“The support is at 1.2301/1.2291 initially and then the exponential mean of 13 days in 1.2204“.
“It is still necessary a close below 1.2169 to ease the immediate bullish bias and clear the way for a return to test support on 1.2099/89with the 55-day mean now at 1.2045.”
“The resistance is at 1.2355 and 1.2417. If it breaks above 1.2447the force will extend to 1.2668/1.2758the high of May 2022 and the 61.8% retracement of the fall of 2021/22.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
