30 Mar 2015
GBP/USD bearish into election uncertainty – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that GBP/USD might witness a bearish close below 1.4800 levels as election uncertainty and US NFP risks loom over the pair.
Key Quotes
“The GBP is likely to remain under pressure during the European session, mainly on account of election uncertainty. The GBP/USD volatility gauge has shot to its highest since the Scottish referendum, while the latest CFTC data shows an increase in the net –short GBP position for the third consecutive week.”
“the pair appears stuck in the range of 1.48-1.5 since the last week. Hence, a daily close above/below the said range could open doors for 1.46-1.52. However, with election uncertainty and US payrolls data slated for release this week, we could witness a bearish daily close below 1.48.”
Key Quotes
“The GBP is likely to remain under pressure during the European session, mainly on account of election uncertainty. The GBP/USD volatility gauge has shot to its highest since the Scottish referendum, while the latest CFTC data shows an increase in the net –short GBP position for the third consecutive week.”
“the pair appears stuck in the range of 1.48-1.5 since the last week. Hence, a daily close above/below the said range could open doors for 1.46-1.52. However, with election uncertainty and US payrolls data slated for release this week, we could witness a bearish daily close below 1.48.”