Thursday, November 12, 2015

GBP/USD appears supported at 1.5150/70 – OCBC

FXStreet (Edinburgh) - In the view of FX Strategist at OCBC Bank Emmanuel Ng, pullbacks in spot could face decent support around 1.5150/70.

Key Quotes

“Mildly supportive wage/labor market readings pulled the GBP-USD higher on the day and the pair may also continue to garner secondary support from the heavy EUR-GBP”.

“The pair may pause on approach of the 1.5300 zone on the topside while 1.5150/70 may support on initial dips”.

“Elsewhere, look to potential domestic cues when the BOE’s Haldene makes an appearance later today. Multi-session, despite markets continuing to speculate on the BOE’s hawkishness, the Fed’s liftoff may continue to the pair may continue to succumb to profit taking on the upside given that Fed dynamics are expected to continue to dominate”.
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