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Nov 21 - 06:55 PM

GBP/USD: Former Resistance Around 1.1650 Should Now Provide Support; What's The Trade - Credit Suisse

By eFXdata  —  Nov 21 - 02:15 PM

Credit Suisse discusses GBP/USD near-term outlook and sees the pair in 1.1650-1.2240 range in the near-term.

"As far as GBP goes, we still think what really matters now is the BoE rates trajectory. We have assumed the roughly 0.8600 – 0.8800 EURGBP range in play over the last month is reasonable in this context," CS notes. 

"Taken together with our near-term EURUSD view, this suggests our former resistance levels for GBPUSD at around 1.1650 should now prove supportive while the 200-day MA at around 1.2240 should be near-term resistance and an attractive long-term sell level," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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