GBP/USD to enjoy a larger rebound on a break above 1.3910/30 – SocGen

Market news

29 October 2021

GBP/USD to enjoy a larger rebound on a break above 1.3910/30 – SocGen

GBP/USD stalls around 1.3800. Economists at Société Générale note that the cable needs to erode the 1.3910/30 resistance zone to extend its bounce.

Supports await at 1.3570 and 1.3410

“September high of 1.3910/1.3930 is an important hurdle that must be crossed for a larger bounce.”

“1.3570 and September low at 1.3410 are near-term supports.”

China: Non-Manufacturing PMI, October 52.4

Japan: Construction Orders, y/y, September 27.3%

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