GBP/USD stays on recovery trail. Nevertheless, economists at Société Générale do not see any meaningful upside for the pair as expect the cable to turn back lower towards 1.33.
Bounce limited
“GBP/USD has staged an initial rebound from 1.3350, however, as long as daily Kijun line at 1.3600 is not crossed, the down move could persist.”
“The pair could drift towards projections of 1.3300/1.3250 and 1.3135.”