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14 Aug 2015
GBP/USD downside appears limited – OCBC Bank
FXStreet (Edinburgh) - FX Strategist at OCBC Bank sees pullbacks in spot to be limited in the near term.
Key Quotes
“The GBP-USD may continue to attempt to resist downside dips in the near term despite some color returning to the dollar’s cheeks”.
“Sub-1.5600, expect support to materialize towards the 55-day MA (1.5573) while watching the topside towards 1.5660”.
“We would however exercise caution in chasing the pair excessively higher, with rate differentials continuing to point in favor of the greenback beyond the short term”.
Key Quotes
“The GBP-USD may continue to attempt to resist downside dips in the near term despite some color returning to the dollar’s cheeks”.
“Sub-1.5600, expect support to materialize towards the 55-day MA (1.5573) while watching the topside towards 1.5660”.
“We would however exercise caution in chasing the pair excessively higher, with rate differentials continuing to point in favor of the greenback beyond the short term”.