GBP/USD could test 1.5040 – OCBC

FXStreet (Edinburgh) - According to FX Strategist at OCBC Bank Emmanuel Ng, the British pound could slip towards the 1.5040 area in the near term.

Key Quotes

“GBP-USD found a base on Wednesday following the less austere than expected budgetary review by finance minister Osborne”.

“BOE rate hike expectations however remain in a flux and we think that it may remain at risk of being pushed back further going ahead”.

“Directionally, we look for sustained risks to test towards 1.5040”.