14 Dec 2015
GBP/USD lows of today critical support - Scotiabank
FXStreet (Guatemala) - Shaun Osborne Chief FX Strategist at Scotiabank explained that GBP/USD risks posting a bearish “engulfing” candle on the daily chart today – indicative of price strongly rejecting the 40-day MA.
Key Quotes:
"We see resistance at 1.5175/85 intraday. Minor support emerge near the lows seen last Thursday and Friday. Weakness below here intraday will see losses pick up.
UK house prices fell in December (-1.1%, according to Rightmove). Early week focus will fall on CPI data (Tuesday, market expects +0.1% Y/Y for the headline rate), amid concerns that weaker energy prices may keep inflation subdued, making the BoE’s intention to normalize interest rates later in 2016 that much harder."
Key Quotes:
"We see resistance at 1.5175/85 intraday. Minor support emerge near the lows seen last Thursday and Friday. Weakness below here intraday will see losses pick up.
UK house prices fell in December (-1.1%, according to Rightmove). Early week focus will fall on CPI data (Tuesday, market expects +0.1% Y/Y for the headline rate), amid concerns that weaker energy prices may keep inflation subdued, making the BoE’s intention to normalize interest rates later in 2016 that much harder."