GBP/USD to extend its advance once above 1.3710/50 – SocGen

GBP/USD registered gains for three straight days before turning calm above 1.3600. A break above 1.3710/1.3750 would open up further gains, economists at Société Générale report.

Recent low at 1.3358 is a solid floor

“A test of the neckline at 1.3710/1.3750 is likely. Overcoming this would denote an extended upmove.”

“Recent low at 1.3358 cushions downside.”

See – GBP/USD: The best guess of where cable will be in 20 years’ time is 1.50 – SocGen