GBP/USD to rebound towards recent high at 1.3644 as 1.3250 holds – SocGen

GBP/USD fell toward 1.3300 but has managed to recover a portion of its daily losses. While above 1.350, cable could bounce towards 1.3565 and the recent peak of 1.3644, economists at Société Générale report.

Critical support aligns at the December low of 1.3160/1.3130

“GBP/USD is drifting towards downside projections of 1.3250. 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.”