GBP/USD to head higher gradually towards projections of 1.3000 and 1.3100/1.3180 – SocGen

Market news

20 June 2023

GBP/USD to head higher gradually towards projections of 1.3000 and 1.3100/1.3180 – SocGen

GBP/USD has embarked on an extended up move after defending the multi-month ascending support line near the 1.2300 level. Economists at Société Générale analyze the pair’s technical outlook.

Next objective seen at 1.3000

The GBP/USD pair is expected to head higher gradually towards projections of 1.3000 and 1.3100/1.3180.

High of May near 1.2670 is a short-term support. Only if this gets violated would there be risk of a short-term pullback.

See: GBP/USD set to move closer to the 1.30 level this year – MUFG

Currencies. Daily history for Tuesday, June 20, 2023

Commodities. Daily history for Monday, June 19, 2023

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