Forex Flash: GBP/USD remains capped – OCBC Bank
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - Cable remains capped following disappoint Service PMI numbers which dipped below 50 and into contraction territory notes Emmanuel Ng of OCBC Bank.
He adds that the pair ended a touch lower even after US labour market numbers. Meanwhile, he comments that net speculative GBP longs dipped slightly in the latest week. He writes, "Overall, we are neutral to cautious on the GBP-USD and a violation of the 55-day MA (1.6062) paves the way to 1.5970/00."
He adds that the pair ended a touch lower even after US labour market numbers. Meanwhile, he comments that net speculative GBP longs dipped slightly in the latest week. He writes, "Overall, we are neutral to cautious on the GBP-USD and a violation of the 55-day MA (1.6062) paves the way to 1.5970/00."
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