What is the technical outlook for GBP/USD over the near-term and medium-term?
Here is their view, courtesy of eFXdata:
Credit Suisse discusses GBP/USD technical outlook and maintains a bullish bias targeting a move towards 1.3514 in the near-term ahead of 1.4300 over the medium-term.
“Near -term bullish “triangle” continuation pattern remains in place. This should add weight to our core bullish view from September that we are in the process of forming the potential “right -hand shoulder” to a major basing process for a move back to long -term price and “neckline” resistance at 1.3472/1.3514,” CS notes.
“Whilst a fresh rejection from here should be allowed for, as highlighted above we continue to look for an eventual break to see a major base secured, clearing the way for a move above 1.4300,” CS adds.
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