GBP/USD: meets 200 DMA, wrestles with resistance at 21 DMA - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that near term risk lies with the broader tone and influence of relative policy for GBP/USD.

    Key Quotes:

    "With vulnerability to a highly sensitive Fed view."

    "Domestically, we look to the release of RICS house price figures at 7:00pm EST, followed by Thursday’s BoE policy meeting. Consensus expects a hold, with the September minutes highlighting an 8-1 hold-hike voting outcome."

    "GBP/USD short-term technicals: bullish, with caution."

    "Following a material break above the 50% retracement of the April June rally around 1.5250 momentum signals are neutral and short-term MA’s hint to the potential for near term resistance as we consider the 21 day MA at 1.5315".
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