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6 May 2015
GBP/USD capped at 1.5320 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects GBP/USD to maintain a 1.5040-1.5320 range.
Key Quotes
“The disappointing April construction PMI was overtaken by broad based dollar weakness on Tuesday. Look to PMI releases later today for further macro cues but the run up to Thursday’s elections may thin investor interest in the pair.”
“Given the current dollar environment, the 55-day MA (1.5040) may provide key support on dips while 1.5320 should cap in the interim.”
Key Quotes
“The disappointing April construction PMI was overtaken by broad based dollar weakness on Tuesday. Look to PMI releases later today for further macro cues but the run up to Thursday’s elections may thin investor interest in the pair.”
“Given the current dollar environment, the 55-day MA (1.5040) may provide key support on dips while 1.5320 should cap in the interim.”