GBP/USD: Approaching towards short term channel limit – SocGen

Research Team at Societe Generale, suggests that the 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).

Key Quotes

“Long dated indicators are close hitting a floor pointing towards possibility of consolidation once these levels are achieved. 1.46/1.4750 should cap short term rebound.”