GBP/USD is retreating after rejection close to 1.3500, with bearish momentum strengthened by MACD crossover and a breach of short-term consolidation assist. Subsequent helps lie close to 1.3070 and 1.3010, Société Générale’s FX analysts notice.
Focus shifts to 1.3070 and 1.3010 as key assist zones
“GBP/USD not too long ago confronted robust resistance eventually yr excessive of 1.3430/1.3500 leading to a gradual pullback. It has breached the decrease restrict of latest transient consolidation denoting receding upward momentum.”
“That is additionally highlighted by the each day MACD, which has dipped beneath its set off line. The pair is more likely to proceed with the section of pullback in short-term. Subsequent potential helps are positioned on the 50-DMA (1.3070) and March excessive of 1.3010/1.2970.”
