GBP/USD is drifting towards the low of December at 1.3160 – removal of which would clear the way for a substantial drop to the 1.30 level, economists at Société Générale report.
Initial bounce not ruled out
“Defending 1.3160 could result in a bounce, however, daily Ichimoku cloud at 1.3460 is expected to be a hurdle.”
“Below 1.3160, next potential support is at 1.3000.”
