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19 May 2015
GBP/USD might consolidate with a downside tilt - OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, believes that further USD strength might lead GBP/USD to consolidate lower towards 1.5597 levels.
Key Quotes
“GBP-USD capitulated below 1.5700 on Monday in line with the majors on Monday and a consolidation of sorts towards the 200-day MA (1.5597) cannot be discounted if the USD gains further traction. BOE MPC minutes may prove to be the next event risk for the pair.”
Key Quotes
“GBP-USD capitulated below 1.5700 on Monday in line with the majors on Monday and a consolidation of sorts towards the 200-day MA (1.5597) cannot be discounted if the USD gains further traction. BOE MPC minutes may prove to be the next event risk for the pair.”