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- GBP/USD to retest 200-DMA around 1.3740 on strong UK data releases – SocGen
GBP/USD to retest 200-DMA around 1.3740 on strong UK data releases – SocGen
GBP/USD is seen an initial pullback after challenging the 200-day moving average (DMA) around 1.3740. According to economists at Société Générale, cable may find more support from UK data this week and challenge the 200-DMA again.
Critical support seen at 1.3500/1.3460
“Cable bulls may have another attempt at the 200-DMA (1.3737) this week if stocks don’t languish and labour market and CPI this week cement case for 25bp BoE hike in February.”
“Daily Ichimoku cloud at 1.3500/1.3460 should be an important support near-term.”
“Next potential hurdle is at October high of 1.3840.”
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