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GBP/USD door open for a visit to 1.48 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, the pair could see its downside accelerated towards the 1.48 area.

    Key Quotes

    “The pound was trounced by a mixture of dollar strength and disappointing November UK construction PMI”.

    Cable’s prospects we think may look increasingly tenuous following the break below 1.5000”.

    “If this level is not re-taken with any conviction, expect the pair to succumb to gravity and sink towards 1.4800”.
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