GBP/USD to gather stronger downside momentum below 1.3670 – OCBC

The GBP/USD pair, which is down on Thursday following an impressive recovery seen on Wednesday, is expected to break below the 1.3700 level, economists at OCBC Bank appraise.

See: GBP/USD to head lower for a test of the 1.35 level – Westpac

GBP/USD to revert to the downside

“The GBP/USD pair range is narrowing to the 1.3700 to 1.3800 zone, potentially signaling a breakout. We expect it to be on the downside, especially as the USD remains on the ascendant and technicals are still more supportive of a downward move.” 

“Breach of 1.3670 needed for stronger downside momentum.”