4 Mar 2015
GBP/USD heading lower to test 1.5281 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, gives the outlook for GBP/USD, with the pair trading soft, eyeing the support at 1.5281 levels.
Key Quotes
“GBP is weak moving towards a test of support provided by the 50-day MA at 1.5281.”
“Services PMI was slightly weaker than expected, falling to 56.7, but still suggestive of an industry that is expanding at a solid pace. There was little news flow outside of this, with most headlines referencing the upcoming election that could temporarily weigh on GBP.”
“GBPUSD short-term technicals: mixed—if GBP breaks the 50-day MA at 1.5281, it opens up a test back down towards the ytd lows of January 23rd.”
“However the broad technical picture is fairly benign with studies providing few signals.”
Key Quotes
“GBP is weak moving towards a test of support provided by the 50-day MA at 1.5281.”
“Services PMI was slightly weaker than expected, falling to 56.7, but still suggestive of an industry that is expanding at a solid pace. There was little news flow outside of this, with most headlines referencing the upcoming election that could temporarily weigh on GBP.”
“GBPUSD short-term technicals: mixed—if GBP breaks the 50-day MA at 1.5281, it opens up a test back down towards the ytd lows of January 23rd.”
“However the broad technical picture is fairly benign with studies providing few signals.”