GBP/USD to extend its advance on a break above 1.36 – SocGen

GBP/USD consolidates after Friday’s bounce to 1.3576. Economists at Société Générale note that the cable must erode the 1.36 level to see further gains.

First hurdle at 1.3600

“August trough of 1.3600 is the first hurdle. This must be overcome for an extended bounce.”

“Failure to hold 1.3410 can result in a test of projections near 1.3340/1.3300.”