GBP/USD upside capped around 1.5314/44 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The pair’s upside appears to be limited by the 1.5314/44 band, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

    Key Quotes

    “The BOE’s Haldene persisted with less than hawkish comments for the second consecutive session on Friday and the 55-day MA (1.5314) and 200-day MA (1.5344) may continue to resist upside tests”.

    “On the downside, with the shadow of a heavy EUR expected to loom, a violation of 1.5200 opens the way to 1.5140. Note that on the CFTC front, net leveraged GBP longs were pared in the latest week”.
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