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GBP/USD rangebound between 1.5335-1.5495 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The pair is set to navigate the 1.5335-1.5495 range in the near term, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

    Key Quotes

    “September UK retail sales numbers posted better than expected readings and the EUR-GBP slumped after Draghi’s comments but note that the GBP-USD continued to bleed lower on the day on the back of broad dollar undertones within G10 space”.

    “At this juncture, expect the pair to remain tethered around its 55-day MA (1.5409) and within a 1.5335-1.5495 range”.
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