GBP/USD to grind higher towards 1.3840/1.3910 on a break above 1.3660 – SocGen

Sterling cuts losses as the GBP/USD pair is trading at its highest level since late September. The cable could extend its advance towards the 1.3840/1.3910 region once above the 1.3660 resistance level, economists at Société Générale report.

Cable is probing daily Kijun line

“GBP/USD is in vicinity to daily Kijun line at 1.3660. Once overcome, ongoing rebound could extend towards 200-DMA and the daily Ichimoku cloud at 1.3840/1.3910.”

“Recent trough at 1.3410 remains a crucial support.”