GBP/USD: Next objectives can be located at projections of 1.2220 and 1.2135 – Société Générale
FXStreetJan 9, 2025 10:25 AM
GBP/USD has extended its phase of correction after break below November lows (1.2480), Société Générale’s FX analysts note.
GBP/USD extends its correction below 1.2480
“Daily MACD is at a higher level than the trough achieved in November however signals of a meaningful rebound are not yet visible. Next potential objectives could be located at projections of 1.2220 and 1.2135.”
“Upper limit of a steep descending channel near 1.2420/1.2480 is an important resistance zone in case a short-term bounce develops.”
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Trump's Attack on Firing Powell Not Over Yet? Will the Fed's Independence Fall Off Its Pedestal?
TradingKey - Less than a hundred days into Donald Trump’s return to the White House, his administration has not only imposed historically rare high tariffs but is also pushing to boundaries of U.S. law by attempting to directly remove Federal Reserve Chair Jerome Powell.TradingKey
2 hours ago
CrowdStrike: Repricing the Architecture of Cybersecurity
TradingKey - In an AI-native world where security is ever-more defined by identity-driven and AI-native threats, most investors continue to look at cybersecurity through an historic lens, judging endpoint providers as point products, not full-spectrum operating systems for business risk.TradingKey
12 hours ago
ExxonMobil’s Industrial Renaissance: Profitable Scale in a Decarbonizing World
TradingKey - Global energy is trending toward climate imperative, digital disruption, and capital stewardship. But in the background of these secular changes, ExxonMobil (XOM) is writing a different narrative.TradingKey
Wed, Apr 23
Tesla Q1 2025 Earning Report Review: Autonomous Driving and Robotics Lead Future Growth
TradingKey - Tesla's Q1 2025 earnings results revealed short-term financial pressure, with core data lower than market expectations, and both revenue and profitability facing challenges. Against the backdrop of sales and profit pressure, Musk remains confident in Tesla's future.TradingKey
Wed, Apr 23
