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GBP/USD upside capped around 1.5314/44 – OCBC

FXStreet (Edinburgh) - The pair’s upside appears to be limited by the 1.5314/44 band, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“The BOE’s Haldene persisted with less than hawkish comments for the second consecutive session on Friday and the 55-day MA (1.5314) and 200-day MA (1.5344) may continue to resist upside tests”.

“On the downside, with the shadow of a heavy EUR expected to loom, a violation of 1.5200 opens the way to 1.5140. Note that on the CFTC front, net leveraged GBP longs were pared in the latest week”.

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