15 Jun 2015
GBP/USD Forecast: Might hold above 1.5489 if BoE Minutes support – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, gives the outlook and key risks ahead for GBP/USD, expecting the pair to stay responsive to BoE Minutes and Greece rhetoric.
Key Quotes
“GBP-USD shadowed the EUR-USD higher on Friday with the BOE’s McCafferty indicating on Friday that the time to hike interest rates was drawing near.”
“Note however that the pair is south of 1.5550 once again on Greek EUR nervousness while we also note that on the CFTC front, net leveraged GBP longs were pared in the latest week. If the BOE minutes prove supportive, expect the pair to attempt to continue to hold above its 200-day MA (1.5489) although Greek and FOMC headlines may ultimately distract.”
Key Quotes
“GBP-USD shadowed the EUR-USD higher on Friday with the BOE’s McCafferty indicating on Friday that the time to hike interest rates was drawing near.”
“Note however that the pair is south of 1.5550 once again on Greek EUR nervousness while we also note that on the CFTC front, net leveraged GBP longs were pared in the latest week. If the BOE minutes prove supportive, expect the pair to attempt to continue to hold above its 200-day MA (1.5489) although Greek and FOMC headlines may ultimately distract.”