Flash: GBP/USD partially underpinned after BoE Weale’s inflation caution - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that GBP/USD was also partially underpinned after the BOE’s Weale cautioned on firming inflation expectations.

Key Quotes

“Meanwhile, on the CFTC front, net speculative GBP shorts increased in the latest week but this effect may have been partially neutralized by late week dollar vulnerability.”

“We continue to adhere to a neutral stance for the GBP/USD with the 55-day MA (1.6005) acting as a clear support while upside risks may remain slightly tilted towards 1.6150.”