15 Oct 2013
Flash: GBP/USD tilted to the downside – Scotiabank
FXstreet.com (Edinburgh) -The GBP/USD is retracing this morning’s pullback, bouncing off intraday troughs in the proximity of 1.5920 to the current 1.5975/80 region. Camilla Sutton, Chief Strategist at Scotiabank, emphasizes the relevance of the employment data due tomorrow.
Key quotes
“Inflation is important for BoE expectations, however it is tomorrow’s release of employment data that is the most important”.
“Short-term technicals remain mixed but we still see GBP biased for downside. The MACD is firmly in sell territory and we see recent spot movement (or lack thereof) as simply a temporary pause”.
“Support lies at the 50-day MA at 1.5798, we expect a near-term test to this level”.
Key quotes
“Inflation is important for BoE expectations, however it is tomorrow’s release of employment data that is the most important”.
“Short-term technicals remain mixed but we still see GBP biased for downside. The MACD is firmly in sell territory and we see recent spot movement (or lack thereof) as simply a temporary pause”.
“Support lies at the 50-day MA at 1.5798, we expect a near-term test to this level”.