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Nov 11 - 10:55 AM

GBP/USD: Look For A Break Of 1.3409 After An Initial Pullback Around Current Levels - Credit Suisse

By eFXdata  —  Nov 11 - 10:00 AM

Credit Suisse discusses GBP/USD technical outlook and maintains a bullish bias but sees a scope for an initial pullback around current levels.

"Whilst an initial pullback from here should be allowed for, we look for a break in due course for a move to 1.3403/09 next and eventually back to long -term price and “neckline” resistance at 1.3473/1.3514. Above here, which we eventually look for is needed to see a major base secured, clearing the way we think for a move to above 1.4300," CS notes. 

"Support moves to 1.3208 initially, which we look to try and hold. Below can see a deeper pullback to support at 1.3168, potentially 1.3093, but with better support expected here," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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