8 Aug 2013
Flash: GBP/USD rangebound trading to continue – ANZ
FXstreet.com (New York) - Tim Riddell, Head of Global Markets Research at ANZ analyzes the short-term outlook of the GBP/USD.
Key quotes
Despite some initial concern over the slip through 1.5000, the broader GBP/USD 1.48-1.58 range remained intact and should now be seen as more entrenched.”
“Current rebounds appear impulsive, but are still seen as range redefining. If dips hold the 1.5215-50 area, another push to 1.5600 (possibly 1.5800) may develop, but (in the same way that slippage to 1.5000 was an opportunity to buy) this should be seen as an opportunity to sell as the range continues.”
Key quotes
Despite some initial concern over the slip through 1.5000, the broader GBP/USD 1.48-1.58 range remained intact and should now be seen as more entrenched.”
“Current rebounds appear impulsive, but are still seen as range redefining. If dips hold the 1.5215-50 area, another push to 1.5600 (possibly 1.5800) may develop, but (in the same way that slippage to 1.5000 was an opportunity to buy) this should be seen as an opportunity to sell as the range continues.”