Potential for further GBP strength near term – Danske Bank

By FXstreet.com | July 02, 2014 AAA

FXStreet (Edinburgh) - In the opinion of Anders Fischer, Analyst at Danske Bank, the sterling would remain strongin the near term.



Key Quotes



“GBP gained support yesterday and EUR/GBP dropped back below the 0.80 level, while GBP/USD increased and broke above the technical resistance level at 1.7136, as UK manufacturing PMI unexpectedly rose to the highest level in seven months”.



“Still, UK economic data perform relative to both US and European data and in the near term we still see potential for a stronger GBP against EUR and USD”.



“Today’s release of UK construction PMI has the potential to trigger a test of the very strong technical resistance level in GBP/USD at 1.7203”.



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center