GBP/USD: Pullbacks to be short live while below 1.6743 - SocGen

FXStreet (Bali) - Any pullback in GBP/USD is likely to be short lived as long as below 1.6743, notes the FX Technical Team at Societe Generale.

Key Quotes

"GBP/USD has broken below monthly channel limit. Monthly RSI has retraced from a resistance indicating possibility of a much deeper correction."

"The pair is poised to face further down move towards 1.6280/50 with intermediate support at 1.6470. 1.6743 should limit upside. For the day, 1.6570/52 will be an immediate support."