Flash: GBP/USD to consolidate near term - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank feels that GBP/USD has potential for further near term consolidative behaviour.

Key Quotes

“Expect further consolidative behavior for the pair if risk appetite levels continue to sour in the near term with dovish inflation comments from the BOE’s Weale on Wednesday providing another excuse for investors to take some profits off the table.

“Technically, 1.6400 and then 1.6470 may continue to cap while initial resistance is seen towards 1.6300.”