GBP/USD stays in an uptrend, consolidating close to key resistance at 1.3430, with potential for additional beneficial properties if this degree is breached, Société Générale’s FX analysts be aware.
Uptrend pauses inside bullish flag
“GBP/USD up transfer has stalled after reaching final 12 months excessive of 1.3430. It has developed inside a flag; this sample denotes a quick pause inside uptrend. The pair has maintained above the 50-DMA (1.3130), which highlights prevalence of upward momentum.”
“The MA and up to date pivot low close to 1.3130 is a short-term assist. The pair is inching larger in direction of 1.3430. Cross above this will result in an extension in uptrend in direction of projections of 1.3510 and 1.3620.”
