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GBP/USD upside appears capped around 1.5200 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, believes the pair’s upside could be limited by the 1.5200 handle.

Key Quotes

“UK 2Q GDP readings were flat to softer (+2.4% yoy) relative to prior expectations although the 2Q current account deficit improved more than expected to –GBP16.8bn”.

“Nonetheless, our near term view remains intact and expect 1.5070 on the downside to attract with 1.5200 capping for now”.

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