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13 Jun 2013
Flash: Caution towards GBP strength - OCBC
FXstreet.com (Barcelona) - Ahead of US data today for the afternoon where the focus will be on retail sales, Analyst - Emmanuel Ng said that the GBP-USD inched higher to test the 1.5700 ceiling on Wednesday with Apr/May labor market numbers offering partial support.
GBP/USD overdone?
He explains that there is caution towards excessive GBP strength may yet persist however, with the BOE’s Fisher indicating that the economic recovery may take longer than anticipated.
GBP/USD in sight
In the interim, he explained that the any ability to hold above the 1.5600 floor may increase the chances of a challenge towards the 200-day MA (1.5701).
GBP/USD overdone?
He explains that there is caution towards excessive GBP strength may yet persist however, with the BOE’s Fisher indicating that the economic recovery may take longer than anticipated.
GBP/USD in sight
In the interim, he explained that the any ability to hold above the 1.5600 floor may increase the chances of a challenge towards the 200-day MA (1.5701).