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13 Feb 2013
Forex Flash: GBP/USD higher ahead of key inflation report – OCBC Bank
Emmanuel Ng of OCBC Bank notes that GBP/USD managed to bounce off sub-1.5600 lows on Tuesday to end slightly higher on the day in line with the majors and ahead of the BOE Inflation Report today.
He writes, “On this front, expect the pound to remain vulnerable if the BOE remains sufficiently cautious on the economic outlook. In the interim, we retain a top-heavy posture for the pair with 1.5800 expected to serve as a key resistance while 1.5550 may beckon again on any further negativity.”
He writes, “On this front, expect the pound to remain vulnerable if the BOE remains sufficiently cautious on the economic outlook. In the interim, we retain a top-heavy posture for the pair with 1.5800 expected to serve as a key resistance while 1.5550 may beckon again on any further negativity.”