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GBP/USD remains reticent at current levels – OCBC

FXStreet (Edinburgh) -Emmanuel Ng, FX Strategist at OCBC Bank assessed the recent price action in spot.

Key Quotes

“The GBP withstood broad dollar resilience on Monday with the pair ending on firmer ground, likely on a heavy EUR-GBP as well as background BOE rate hike expectations”.

“Look towards an appearance by the BOE’s Carney (1000 GMT) later today for further cues and the 55-day MA (1.5417) may continue to repel initial dips in the pair”.

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