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GBP/USD downside appears limited – OCBC

FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, occasional pullbacks should be limited.

Key Quotes

“Continued relative plays via the top heavy EUR-GBP may serve to temper GBP-USD downside risks in the near term”.

“On the domestic front, look to data points and statements from the BOE’s Carney and Haldene this week for further cues”.

“On the CFTC front, net leveraged GBP longs increased slightly in the latest week although our preference is to continue to fade upticks within 1.5100 and 1.5310 (55-day MA)”.

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