Filed Under:
Forex pairs in this Article » EUR/USD, GBP/USD (Barcelona) - Emmanuel Ng of OCBC Bank notes that the Euro has continued to strengthen yesterday while GBPUSD has taken a time out from its relentless decline.

Starting with EURUSD, he sees that the slew of confidence indicators out of the EZ today should fundamental cues for the pair. He is retaining a positive near term outlook for the pair in the interim, with initial resistance expected towards 1.3500/10. On the downside, significant support is not expected to materialize on a break of 1.3400 until 1.3300.

Looking to Cable, Ng comments that the pair looks to have taken a time out yesterday as the broad dollar retreated across G10 space. However, he writes, "Note the failure by cable to retake the 1.5800 handle, and we continue to prefer a sell-rally bias in the short term with the 1.5700 floor likely still fragile."
comments powered by Disqus