Losses for GBP/USD have snowballed to 1.3% since the high of 1.3933 on 30 July. Economists at Société Générale expect the cable to tackle the 1.3750 level.
See: GBP/USD set to challenge the 200-DMA at 1.3779 – OCBC
Drifting towards 200-DMA
“GBP/USD struggled near the daily Ichimoku cloud at 1.4000 after which a pullback is underway.”
“Cable is gradually drifting towards 200-DMA near 1.3750. In case this gets violated, the pair could retest last month's low of 1.3570.”
