23 Oct 2015
GBP/USD rangebound between 1.5335-1.5495 – OCBC
FXStreet (Edinburgh) - The pair is set to navigate the 1.5335-1.5495 range in the near term, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Key Quotes
“September UK retail sales numbers posted better than expected readings and the EUR-GBP slumped after Draghi’s comments but note that the GBP-USD continued to bleed lower on the day on the back of broad dollar undertones within G10 space”.
“At this juncture, expect the pair to remain tethered around its 55-day MA (1.5409) and within a 1.5335-1.5495 range”.
Key Quotes
“September UK retail sales numbers posted better than expected readings and the EUR-GBP slumped after Draghi’s comments but note that the GBP-USD continued to bleed lower on the day on the back of broad dollar undertones within G10 space”.
“At this juncture, expect the pair to remain tethered around its 55-day MA (1.5409) and within a 1.5335-1.5495 range”.