GBP/USD: Defending 1.3250 can result in a rebound – SocGen

The GBP/USD pair stays in a consolidation phase above 1.3300 to start the week. While the 1.3250 level holds, the cable may be set to stage a rebound, according to economists at Société Générale.

50-DMA at 1.3570/1.3600 to be a near-term hurdle

“GBP/USD has approached the support of 1.3250 representing weekly Ichimoku cloud. Holding above this, a rebound can not be ruled out.” “50-DMA at 1.3570/1.3600 will be a near-term hurdle.”