GBP/USD to bounce towards 1.3565 and recent peak of 1.3644 as 1.3250 holds – SocGen

GBP/USD fell to its lowest level since late December at 1.3271 on Thursday. While above 1.3250, cable is expected to enjoy a rebound towards 1.3565 and the recent peak of 1.3644, economists at Société Générale report.

Bounce expected

“Projections at 1.3250 is first support. Defending this can lead to a bounce towards 1.3565 and recent peak of 1.3644.”

“December low of 1.3160/1.3130 is crucial support.”