Thursday, October 8, 2015

GBP/USD: meets 200 DMA, wrestles with resistance at 21 DMA - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that near term risk lies with the broader tone and influence of relative policy for GBP/USD.

Key Quotes:

"With vulnerability to a highly sensitive Fed view."

"Domestically, we look to the release of RICS house price figures at 7:00pm EST, followed by Thursday’s BoE policy meeting. Consensus expects a hold, with the September minutes highlighting an 8-1 hold-hike voting outcome."

"GBP/USD short-term technicals: bullish, with caution."

"Following a material break above the 50% retracement of the April June rally around 1.5250 momentum signals are neutral and short-term MA’s hint to the potential for near term resistance as we consider the 21 day MA at 1.5315".
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