13 Feb 2015
GBP/USD bullish in the short-term - Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes technicals warn of a GBP/USD move upwards to 1.5584.
Key Quotes
“GBP is flat to yesterday’s close but continues to trade bullishly above the 50-day MA on the back of yesterday’s BoE Inflation Report. Data today was soft, with construction output rising only 0.4%m/m.”
“GBPUSD short‐term technicals: bullish—GBP signals have all shifted to bullish, warning of a push higher, up to 1.5584. Only a close back below the 50-day MA would through near-term strength into jeopardy."
"We see support at the 50-day MA at 1.5343 followed by 1.5300; whereas resistance is limited until 1.5584.”
Key Quotes
“GBP is flat to yesterday’s close but continues to trade bullishly above the 50-day MA on the back of yesterday’s BoE Inflation Report. Data today was soft, with construction output rising only 0.4%m/m.”
“GBPUSD short‐term technicals: bullish—GBP signals have all shifted to bullish, warning of a push higher, up to 1.5584. Only a close back below the 50-day MA would through near-term strength into jeopardy."
"We see support at the 50-day MA at 1.5343 followed by 1.5300; whereas resistance is limited until 1.5584.”