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GBP/USD expected to surge higher towards the 1.22/23 zone

Mohamed Abdelhamid 24 November, 2022 7:42 pm Forex Market, Market Update

The GBP/USD pair extends gains through the 1.20 area. Economists at Scotiabank expect Cable to test the 1.22/1.23 region.

Solid intraday trends are backing up a positive longer-term technical picture for the sterling. Clear and sustained gains of the pair through the 1.2000/50 zone this week put the sterling on course for an extension higher to test the 1.22/1.23 area.

The sterling’s 200-day MA stands at 1.2192 and figures as important resistance for the next few days ahead.

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