27 Oct 2015
GBP/USD upside could struggle near 1.5390 – OCBC
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, believes bullish attempts in the pair to find resistance in the 1.5390 area.
Key Quotes
“Despite disappointing CBI data points and a wire poll indicating that expectations for the BOE liftoff have been pushed back to 2Q 16, the GBP-USD edged higher on the back of a vulnerable broad dollar”.
“Look to UK 3Q GDP numbers today for domestic cues and the pair may attempt to base out on any dips towards 1.5300 in the interim”.
“On the upside, the pair may pause on upticks towards the 55-day MA (1.5399)”.
Key Quotes
“Despite disappointing CBI data points and a wire poll indicating that expectations for the BOE liftoff have been pushed back to 2Q 16, the GBP-USD edged higher on the back of a vulnerable broad dollar”.
“Look to UK 3Q GDP numbers today for domestic cues and the pair may attempt to base out on any dips towards 1.5300 in the interim”.
“On the upside, the pair may pause on upticks towards the 55-day MA (1.5399)”.