Buy the dips on GBP/USD – OCBC

FXStreet (Edinburgh) - According to FX Strategist at OCBC Bank Emmanuel Ng, occasional pullbacks in the pair could be buying opportunities.

Key Quotes

“Any potential negative data flow out of the UK may prove secondary to US data points in the near term”.

“Note that the pair has firmed above its 55-day MA (1.5424) with a junction expected into 1.5500 before 1.5550”.

“In the interim, expect a buy-dips posture as BOE rate hike expectations remain an inherent support for the pair”.