GBP/USD Forecast: another attempt at hourly 200-MA likely
Despite Cable’s retreat from the high of 1.3293 on Friday on horrible UK preliminary PMI data, the subsequent failure to go below 1.3065 (last Wednesday’s low) and a daily closing on Friday above 1.31 handle suggests another attempt at 1.3215 (hourly 200-MA) could happen today.
On the lower side, a break below 1.3065 would suggest sell-off from 1.3293 has resumed but reckon the support at 13.30 would remain intact.
On the lower side, a break below 1.3065 would suggest sell-off from 1.3293 has resumed but reckon the support at 13.30 would remain intact.
