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GBP/USD in consolidation between 1.54 and 1.55 – OCBC

FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, GBP/USD could remain in a consolidative pattern between 1.54 and 1.55 in the near term.

Key Quotes

“Outside of any potential ECB-induced swings today via the EUR-GBP, look also to BOE rhetoric in the latter half of the week to determine near term prospects for the pair”.

“At this juncture, expect a consolidation zone within 1.5400-1.5500 with markets likely to collect on dips”.

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