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Range Markets
February 24, 2022
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GBP/USD TO SINK TOWARDS JANUARY LOW OF 1.3358 AFTER LOSING 1.3455 SUPPORT – SOCGEN

GBP/USD is falling for the third straight day. The pair has just broken below the 1.3455 support, which opens the door to additional losses towards the January low of 1.3358, economists at Société Générale report.

200-DAY MOVING AVERAGE AT 1.3678 IS NEAR-TERM RESISTANCE

“GBP/USD is dipping towards the daily Ichimoku cloud at 1.3455. If this gets violated, there would be a risk of further pullback towards January low of 1.3358.”

“The 200-DMA at 1.3678 is near-term resistance.”

See: GBP/USD to test YTD lows at 1.3358 as Ukraine conflict dampens BoE hike expectations – MUFG

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