GBP/USD set to challenge the 200-DMA at 1.3779 – OCBC
|The GBP/USD pair dipped toes below the 1.3800 level before closing above. Economists at OCBC Bank expect the cable to tackle the 200-day moving average (DMA) at 1.3779.
See: GBP/USD to plummet towards the 1.3571 July low – Commerzbank
Re-engage downside
“The 200-DMA (1.3779) remains the immediate target, followed by 1.3732.”
“Expect the pair to continue reversing the gains made from 1.3600 to 1.4000 in July.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.