GBP/USD rangebound near term – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng suggested the pair could remain within the 1.51-1.53 range in the near term.

Key Quotes

“The GBP-USD bounced off intra-day lows after October core CPI came in at a warmer than expected +1.1%”.

“Consolidative behavior may kick in pending further cues, with the pair now sitting at the highway median of a 1.5100-1.5300 range. Our view remains unchanged for a tendency to re-test lower”.