GBP/USD could head to 1.36-1.35 – Societe Generale

Societe Generale cross asset technical research note points to a possibility of the GBP/USD pair falling to 1.36-1.35 levels (lows of 1986, 2001, 2009).

Key points

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).

Long dated indicators are close hitting a floor pointing towards possibility of consolidation once these levels are achieved.

1.46/1.4670 should cap short term rebound.