12 Dec 2014
GBP/USD might range-trade – OCBC
FXStreet (Barcelona) - The OCBC Bank Research Team notes that GBP/USD might trade in a range ahead of the BOE MPC minutes next week.
Key Quotes
“With the GBP-USD still managing to hold above 1.5700 and seeking to nullify its recent heaviness, range trading may prevail ahead of the BOE MPC minutes next week. In the interim, we’d look to the broad dollar for further short-term cues with 1.5655 expected to offer initial support if 1.5700 is breached.“
Key Quotes
“With the GBP-USD still managing to hold above 1.5700 and seeking to nullify its recent heaviness, range trading may prevail ahead of the BOE MPC minutes next week. In the interim, we’d look to the broad dollar for further short-term cues with 1.5655 expected to offer initial support if 1.5700 is breached.“