Sterling seasonals turn bullish in April – SocGen

The Pound wrapped up the first quarter of the year as the best currency in G10. Economists at Société Générale note that GBP seasonals turn bullish in April.

Sterling’s seasonal sweet spot

“Seasonal trends place the GBP/USD pair in the sweet spot in April with gains in eight of the last ten years.”

“GBP/USD has rebounded towards last December/January high of 1.2450. This hurdle must be overcome to affirm extension in the up move.” 

“Last week's low of 1.2210/1.2190 is an important support zone.”