British Pound: Trendline break points to deeper losses – Societe Generale

FXStreetJun 19, 2026 8:49 AM

View all comments（0）



Societe Generale analysts, led by Kenneth Broux, report that GBP/USD has broken below its ascending trendline from April 2025 and is extending declines toward the March low. The bank flags resistance near 1.3300 and support at 1.3065/1.3000, noting that failure to reclaim resistance could see the pair test lower projections around 1.2940.

Cable slides after support failure

"GBP/USD has broken below the ascending trendline established since April 2025, extending its decline toward the March low (1.3150). If a short-term rebound develops, the May trough near 1.3300 may serve as initial resistance."

"Failure to reclaim this hurdle may lead to continuation in the decline. Next support levels are seen at the November 2025 low of 1.3065/1.3000, followed by projections around 1.2940."

"GBP/USD: 1.3163 - 1.3230 overnight range. Cable erases 1.32 handle, off 1.6% this week, third worst performer in G10 after NOK and NZD."

"March low of 1.3159 must hold to avoid deeper drop. Support 1.3065, resistance 1.3300."

"The victory of Andy Burnham in Makerfield lifts 10y yields back above 4.80%. The Sonia curve is pricing one rate increase by year-end."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Google’s Strong Q2 Results Fail to Prevent Stock Pressure, Free Cash Flow Turns Negative for First Time, AI Spending Sparks Concern

TradingKey - Alphabet (GOOGL)(GOOG), the parent company of Google, delivered a quarterly earnings report reflecting a combination of growth and pressure. For the first time since its public listing, Google reported negative quarterly free cash flow, while management once again raised the target for full-year capital expenditures.

Palantir (PLTR) Falls 6% - NHS Scrutiny, Open-Source Rival, Earnings Aug 3

TradingKey - Palantir fell 6% today on two catalysts: UK regulators scrutinised the NHS FDP contract and a free open-source alternative called World Monitor appeared on GitHub. Q2 earnings August 3. At $125, the $122 support is the key level.

Google Q2 Cloud Revenue Surges 82%: Net Profit Soars 298% YoY, 26% QoQ Capital Expenditure Growth Sparks Sharp Bull-Bear Divide

TradingKey - Alphabet (GOOGL, GOOG) released its second-quarter 2026 financial results after the close of U.S. markets on July 22, Eastern Time. As of press time, Google’s revenue for the period reached $119.796 billion, up 24% year-over-year (23% on a constant currency basis), exceeding market expectations of $116.93 billion. This marks the company's 12th consecutive quarter of double-digit revenue growth. Notably, Google Cloud performance was a highlight, with revenue surging 82% year-over-year to $24.8 billion.

Western Digital (WDC) Surges 12.5% to $548 - Kioxia Merger Talks, $900 Analyst Target

TradingKey - Western Digital surged 12.5% to $548 today as memory stocks rebounded and Kioxia merger talks resumed. HDD production is sold out through 2026. Cantor Fitzgerald targets $900, Citi $800. Earnings August 5. Here is the setup.

Alphabet Q2 Earnings Preview: $190 Billion AI Gamble Faces Major Test, Can Google Cloud Still Sustain the Growth Myth?

TradingKey - Alphabet (GOOGL) (GOOG) will release its second-quarter 2026 financial results after the U.S. market close on July 22. As one of the world's most valuable technology companies by market capitalization, Alphabet’s business spans multiple sectors including search advertising, YouTube, Google Cloud, generative AI, and autonomous driving. Its earnings performance not only impacts its own stock price but is also regarded as a crucial bellwether for the global AI investment cycle.

Featured Tools