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

    Oct 7, 2015
    Likes Received:
    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".
    For more information, read our latest forex news.

Share This Page

free forex signals