GBP/USD to tank towards 1.3570 on a break below 1.3750 – SocGen

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.”