17 Aug 2015
GBP/USD resistance expected around 1.5700/50 – OCBC Bank
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees GBP/USD facing strong resistance around 1.5700/50 band.
Key Quotes
“The July CPI readings today are expected to kick off the week while July retail sales data on Wednesday are also expected to hold the market’s attention”.
“The pound we think will continue to be sensitive to evolving (read: quasi hawkish) rate expectations surrounding the BOE and in this context, expect the 55-day MA (1.5582) to support in the interim while the upside around 1.5700-1.5750 may continue to be eyed”.
Key Quotes
“The July CPI readings today are expected to kick off the week while July retail sales data on Wednesday are also expected to hold the market’s attention”.
“The pound we think will continue to be sensitive to evolving (read: quasi hawkish) rate expectations surrounding the BOE and in this context, expect the 55-day MA (1.5582) to support in the interim while the upside around 1.5700-1.5750 may continue to be eyed”.