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.”

This article was originally published by Fxstreet.com.Read the original article here.

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