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GBP/USD faces strong resistance at 1.5322 – OCBC

FXStreet (Edinburgh) - In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, the pair could face a tough barrier around 1.5320.

Key Quotes

“Note that the GBP may remain a relative underperformer relative to the cyclicals ahead of the BOE MPC tomorrow given that hawkish BOE expectations have taken a slight hit in recent sessions”.

“In the interim, expect the 200-day MA (1.5322) to block with 1.5100 seen supporting on the downside”.

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GBP/USD: Bulls struggle to take out 200-DMA resistance

The Sterling bulls’ first attempt to take out the 200-DMA resistance at 1.5319 quickly ran into offers at 1.5322, pushing the GBP/USD pair back to 1.53 levels.
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