20 Jul 2015
GBP/USD faces resistance at 1.5680 – OCBC Bank
FXStreet (Edinburgh) - FX Strategist Emmanuel Ng at OCBC Bank, expects the pair to find tough resistance in the 1.5680 area.
Key Quotes
“Localized risks may potentially arise from the BOE MPC minutes this week although the pair may attempt to continue to stave off broad dollar overtures following supportive BOE rhetoric last week”.
“On the CFTC front, net leveraged GBP longs increased in the latest week and the pair may find initial support towards the 55-day MA (1.5544) while hesitating on approach of 1.5680”.
Key Quotes
“Localized risks may potentially arise from the BOE MPC minutes this week although the pair may attempt to continue to stave off broad dollar overtures following supportive BOE rhetoric last week”.
“On the CFTC front, net leveraged GBP longs increased in the latest week and the pair may find initial support towards the 55-day MA (1.5544) while hesitating on approach of 1.5680”.