British Pound: 1.3440–1.3420 support in focus against US Dollar - Societe Generale
Societe Generale highlights GBP/USD trading just above its 200-day moving average, with the August trough around 1.3440–1.3420 acting as a key support zone.
The British pound is trading near key support levels of 1.3440–1.3420 against the US dollar, according to Societe Generale. The bank notes that the August trough in the GBP/USD pair is acting as a critical support zone. While there is potential for a brief bounce, a move above the recent pivot high of 1.3565 is required to confirm a broader recovery. Conversely, if the pair fails to hold above 1.3420, the decline may extend towards lower levels of 1.3360 and 1.3270.
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