GBP/USD downfall risk ahead of BOE MPC – OCBC

FXStreet (Barcelona) - The OCBC Bank Research Team see risk building up for a test of 1.5600 floor for the GBP/USD pair if it fails to break above 1.5800 levels ahead of the BOE MPC.

Key Quotes

“The GBP-USD rode higher partially on the back of a better than expected November Markit manufacturing PMI reading of 53.5 and the retracement in the broad dollar. Going ahead, any failure to challenge 1.5800 may invite another test towards the 1.5600 floor this week as we head towards the BOE MPC.“