GBP/USD Price Analysis: Bulls have the upper hand above 200 DMA, US NFP awaited
The GBP/USD pair consolidates its recent gains to the highest level since June and oscillates in a range, below the 1.2300 mark through the first half of the European session on Friday. The technical bias, meanwhile, remains tilted in favour of bulls and supports prospects for a further near-term appreciating move. Read more...
GBP/USD Forecast: Next bullish target aligns at 1.2360
After having spent the Asian session consolidating Thursday's impressive gains near 1.2250, GBP/USD has gained traction and started to stretch higher toward 1.2300. Although the pair's near-term technical outlook points to overbought conditions, additional gains are likely after the US November jobs report. Read more...
GBP/USD: Up move could extend towards 1.2750 on a break past 1.2450 – SocGen
GBP/USD has risen close to the 1.2450 mark. A break above here is needed to avoid a phase of pullback, economists at Société Générale report.
“1.2450 is the lower end of the multi-year range from which the pair broke down earlier this year and it is expected to be an intermittent resistance zone. A test and failure to cross above this hurdle could result in a phase of pullback. The October high of 1.1500, which is also the 50DMA, is expected to be first layer of support in case a decline develops.” Read more...
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