GBP/USD: Daily close below 1.30 to open up room towards the 1.28 zone – OCBC

GBP/USD re-opened above 1.30 on Monday, but the rebound does not have good altitude. Economists at OCBC note that the cable could suffer significant losses towards the 1.28 region on a close below 1.30.

Any bounces should fizzle before 1.31

“With the USD still in ascendence, the pair may see a daily close below 1.30, and that could open up room towards the 1.2800/90 zone.”

“Any bounces should fizzle before 1.31.”