GBP/USD has retested the peak of 1.2450 resulting in a brief pause. A break past this level is set to resume the race higher towards 1.2550/1.2600 and 1.2750, economists at Société Générale report.
50DMA at 1.2160/1.2130 is crucial support
“Daily MACD is at a much lower level as compared to previous high denoting receding upward momentum. However, signals of an extended pullback are not yet visible.”
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