EUR/USD, GBP/USD, USD/JPY: Tactical Views - SocGen

Societe Generale FX Strategy Research notes that EUR/USD correction did nothing to provide cheaper levels to buy yet and as such SocGen prefers playing GBP/USD at current levels.

"If you think EUR/USD has further correction to go, short GBP/USD looks good," SocGen advises.

"USD/JPY is the Bellwether for that we’d like the base of the upward trend we’ve been in since May, at 109.40, to hold.

We'd also like EUR/USD to hold 1.16 and avoid threatening the foundations of the EUR/USD and EUR/JPY rally. 

Source: Societe Generale Cross Asset Research