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GBP/USD could head to 1.36-1.35 – Societe Generale

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Societe Generale cross asset technical research note points to a possibility of the GBP/USD pair falling to 1.36-1.35 levels (lows of 1986, 2001, 2009).

    Key points

    GBP/USD has breached a multiyear upward channel support (1.46) and looks headed towards graphical levels at 1.36/1.35 (lows of 1986, 2001, 2009).

    Long dated indicators are close hitting a floor pointing towards possibility of consolidation once these levels are achieved.

    1.46/1.4670 should cap short term rebound.
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