31 Jul 2015
GBP/USD supported around 1.5550 – OCBC Bank
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, argues the pair could find decent support in the mid-1.5500s.
Key Quotes
“Ahead of the pivotal BOE MPC next week, the pound may attempt to continue be holdout in the face of the near term dollar tide amidst background BOE rate hike expectations”.
“As such, the GBP-USD may continue to cling to the 1.5600 handle with the 55-day MA (1.5553) seen as a first support”.
Key Quotes
“Ahead of the pivotal BOE MPC next week, the pound may attempt to continue be holdout in the face of the near term dollar tide amidst background BOE rate hike expectations”.
“As such, the GBP-USD may continue to cling to the 1.5600 handle with the 55-day MA (1.5553) seen as a first support”.