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Nov 10 - 09:55 AM

GBP/USD: Staying Bullish Targeting Neckline Resistance At 1.3514 - Credit Suisse

By eFXdata  —  Nov 10 - 09:08 AM

Credit Suisse discusses GBP/USD technical outlook and maintains a bullish bias targeting a move towards 1.3514 in the near-term.

"We remain of the view price action over the past two months stays seen as the potential “right -hand shoulder” to a major basing process and look for a sustained break in due course with resistance seen at 1.3310/19 next, ahead of 1.3403/09 and eventually back at long -term price and “neckline” resistance at 1.3482/1.3514, above which is needed to see a major base secured," CS notes. 

"Support moves to 1.3128 initially, with 1.3093 now holding to keep the immediate bias higher. Below can see a deeper setback to support from the 13 -day average at 1.3070/67, but with fresh buyers expected here," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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