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7 Jul 2023

GBP/USD: Break above 1.2850 can lead to extension in uptrend – SocGen

Economists at Société Général analyze GBP/USD outlook.

1.2500/1.2450 is next support

The 50-DMA and December high near 1.2500/1.2450 is an important support zone. A short-term bounce is not ruled out; a break above 1.2850 can lead to an extension in the uptrend. 

In case the pair fails to defend 1.2500/1.2450, there is risk of a deeper downtrend. Next potential supports could be at the May low of 1.2300 and 200-DMA at 1.2120.

See – GBP/USD: Gains should pick up more noticeably above 1.2780 – Scotiabank

 

Jul 7, 2023

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DXY looks under pressure and hovers around the 103.00 area ahead of the key Nofarm Payrolls. While further consolidation seems probable in the very ne
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Jul 7, 2023

USD/CHF Price Analysis: 200-EMA remains a key barrier

The USD/CHF pair is looking vulnerable near the immediate support of 0.8950 in the London session. The Swiss Franc asset is under severe pressure as t
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