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Forex pairs in this Article » EUR/USD, GBP/USD
FXStreet (Bali) - According to Marc Chandle, Global Head of Currency Strategy at BBH, GBP/USD technicals suggest caution to play the long side in the next few sessions.

Key Quotes

"The market has largely taken on board the probability that the BOE is the first of the major central banks to hike rates and at is not, most likely until early 2015."

"There is some risk of an earlier than a later move. Yet, even here the technical indicators are not generating strong signals and market positioning appears stretched."

"The price action on Friday was poor; an outside down day was recorded. This warns of risk of a deeper correction if the $1.66 area is violated."

"A break could signal another leg down, perhaps a little more than a cent, though some chart-based support seen in the $1.6530 area."
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