5 Dec 2014
Sterling stuck in medium-term range - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that GBP is still trading in its month‐long 1.5586 to 1.6023 range.
Key Quotes:
"Fundamental data was light; with next week’s industrial and manufacturing production releases (typical volatile), trade balance and housing data the focus."
"GBP/USD short‐term technicals: mixed—suggesting GBP is likely to range trade in the near‐term. The month long range of 1.5586 to 1.6023 can be used as support and resistance levels. We see better risk/reward elsewhere."
Key Quotes:
"Fundamental data was light; with next week’s industrial and manufacturing production releases (typical volatile), trade balance and housing data the focus."
"GBP/USD short‐term technicals: mixed—suggesting GBP is likely to range trade in the near‐term. The month long range of 1.5586 to 1.6023 can be used as support and resistance levels. We see better risk/reward elsewhere."