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Nov 16, 2015
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”.
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”.