27 Feb 2015
GBP/USD poised to move upwards towards 1.5620 – SG
FXStreet (Barcelona) - Analysts at Societe Generale, predict GBP/USD to target 1.5620 and even 1.58 levels over the next 1-3 months.
Key Quotes
“GBP/USD took support at the multi-year upward channel limit of 1.49 and has undergone a rebound.”
“The monthly stochastic is at a support suggesting 1.49 as a key level.”
“The pair confirmed an inverted head-and-shoulders pattern, and broke above a descending channel within which the recent downtrend evolved.”
“The pair looks poised to continue the up move towards 1.5620 and even towards the 1.58 December high. However, 1.58 should decide if the uptrend goes further.”
Key Quotes
“GBP/USD took support at the multi-year upward channel limit of 1.49 and has undergone a rebound.”
“The monthly stochastic is at a support suggesting 1.49 as a key level.”
“The pair confirmed an inverted head-and-shoulders pattern, and broke above a descending channel within which the recent downtrend evolved.”
“The pair looks poised to continue the up move towards 1.5620 and even towards the 1.58 December high. However, 1.58 should decide if the uptrend goes further.”