GBP/USD to inch higher towards 1.2610 and 1.2750 if December high at 1.2450 is overcome – SocGen

GBP/USD has once again failed to overcome the key resistance at 1.2450. A break above here would open up 1.2610, then 1.2750, analysts at Société Générale report.

Defending 1.2010 critical for persistence in bounce

“Ongoing bounce is likely to persist towards recent high near 1.2450. If this is overcome, GBP/USD is expected to inch higher towards 1.2610 and 1.2750, the 61.8% retracement from 2021.”

“Defending recent higher low at 1.2010 is crucial for persistence in bounce.”

See – GBP/USD: Door open for the GBP to regain 1.23 in the short run – Scotiabank