GBP/USD has fallen to the 1.1500/1.1409 target of Credit Suisse. His analysts foresee only a temporary pause here and a further weakness to 1.1020/00.
Consolidation at 1.1500/1.1409, long-term target, seen as only temporary
“While we continue to look for a consolidation phase at the key 2020 low and long-term trend support dating back to 1985 at 1.1500/1.1409, we remain of the view that it will only be temporary.”
“A drop below 1.1409 and potential trending support at 1.1350 would be seen as a sign of further significant deterioration, with support seen next at 1.1285, before hitting 1.1020/00 and potentially back to the lows of 1985 at 1.0520/1.0483.”
“The resistance is seen at 1.1717 initiallywith 1.1902 ideally capping the upside.”
Source: Fx Street
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