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Jan 04 - 02:55 PM

EUR/USD: Targeting 2018 Peak; GBP/USD: 1.3135 Should Cushion Pullbacks - SocGen

By eFXdata  —  Jan 04 - 01:30 PM

Societe Generale Research summarizes its technical bias on EUR/USD and GBP/USD.

"EUR/USD has extended its uptrend after breaking above September high (1.2013). It is in vicinity to interim projection of 1.2330. The up move is likely to extend towards 2018 peak of 1.2558/1.26," SocGen notes. 

"GBP/USD has reached the target of 1.37/1.3740 representing the trend line connecting peaks of September 2018 and December 2019. An initial pullback can’t be ruled out however 1.3135 should cushion downside. Next objective could be at 1.4030," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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