Greetings,
A low GPA is a surmountable obstacle assuming you can demonstrate that the prior performance does not represent your true abilityand you are flexible with regard to the exact institution you attend. Further, a low GPA might not be as bad as it looks at first glance assuming that you had a postive grade trend and the worst classes were not of great concern to MBA programs.
On the other hand, the high school GPA you cited is probably not particularly relevant. However, if a 3.4 from your secondaryschool is at the top of the grade scale, it would suppport an argument that you were an extremely strong student who had some sort of difficulties that prevented you from performing at your usual (i.e. superlative) level.
I would also consider taking graduate level courses to conclusively prove that you are capable of attaining high grades in advanced coursework.
Hjort