26 Jun 2014
GBP/USD: Financial stability report eyed - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, shares a brief review on the GBP/USD ahead of the European trade, noting that initial resistance is expected towards 1.7065 while 1.6930/60 should cushion in the interim.
Key Quotes
"Despite the dollar’s broad based weakness on Wednesday, the pound was still trying to come to terms with Carney’s comments earlier in the week, ending largely flat. For today, look for potential event risks from the Financial Stability Report (0930 GMT) later today and the pair may continue to stay in the vicinity of the 1.7000 neighborhood. Initial resistance is expected towards 1.7065 while 1.6930/60 should cushion in the interim."
Key Quotes
"Despite the dollar’s broad based weakness on Wednesday, the pound was still trying to come to terms with Carney’s comments earlier in the week, ending largely flat. For today, look for potential event risks from the Financial Stability Report (0930 GMT) later today and the pair may continue to stay in the vicinity of the 1.7000 neighborhood. Initial resistance is expected towards 1.7065 while 1.6930/60 should cushion in the interim."