GBP/USD could test 1.5850 – OCBC Bank

FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, the recent upside in the pair opens the door for a test of the 1.5850 area.

Key Quotes

“Our view remains unchanged and the GBP may continue to draft higher in tandem with the EUR despite increasing levels of risk aversion as market-implied Fed lift-off prospects continue to be eroded”.

“In this environment, the 55-day MA (1.5620) may offer support on dips with risks oriented towards 1.5850 at this juncture”.