GBP/USD: Downmove to persist towards the 1.3660 mark – SocGen

GBP/USD is struggling around 1.37. According to economists at Société Générale, cable targets the 1.3660 support after failure to recapture the 200-day moving average at 1.3789.

Support 1.3660, resistance 1.3790

“GBP/USD has experienced a pullback after facing stiff resistance near daily Ichimoku cloud at 1.4000.”

“Failure to reclaim 200-DMA at 1.3790 can take the pair towards 1.3660 and recent trough of 1.3570.”