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Nov 30 - 06:55 PM

GBP/USD: Staying Core Bearish For 1.3135 Ahead Of 1.2855/29 - Credit Suisse

By eFXdata  —  Nov 30 - 03:00 PM

Credit Suisse discusses GBP/USD technical outlook and maintains a core bearish bias.

"We maintain our core bearish outlook for our core objective of 1.3189/35, which is the major cluster of supports including the 38.2% retracement of the 2020/21 rise, December 2020 lows and also the long -term 200 - week average. We continue to look for an important floor here," CS notes.

"Should weakness unexpectedly directly extend we see support next at 1.3109/06 but in reality the next more meaningful support is not seen until the 50% retracement of the 2020/2021 uptrend and November 2020 low at 1.2855/29," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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