18 Aug 2015
GBP/USD could visit 1.5930 – TDS
FXStreet (Edinburgh) - In the view of strategists at TD Securities, Cable could climb towards the 1.5930 level if upside momentum persists.
Key Quotes
“In currency markets, the GBP is the day’s clear winner so far after a surprisingly strong UK inflation reading”.
“We are keeping a close watch on cable, where spot climbed above key resistance at 1.5690”.
“This level forms a strategic medium-term pivot, in our view; a close above this mark today could open the door to a challenge of the June highs at 1.5930 as the strong-GBP trend resumes”.
“We also continue to look for an extended GBP rise against the EUR and CAD, where we are watching and 0.6935 and 2.0630, respectively, as important thresholds for further gains”.
“Tomorrow’s UK retail sales report for July will be a key component for gauging follow-through potential, however, as the BoE appears more sensitive to growth risks than inflation—at least for now”.
Key Quotes
“In currency markets, the GBP is the day’s clear winner so far after a surprisingly strong UK inflation reading”.
“We are keeping a close watch on cable, where spot climbed above key resistance at 1.5690”.
“This level forms a strategic medium-term pivot, in our view; a close above this mark today could open the door to a challenge of the June highs at 1.5930 as the strong-GBP trend resumes”.
“We also continue to look for an extended GBP rise against the EUR and CAD, where we are watching and 0.6935 and 2.0630, respectively, as important thresholds for further gains”.
“Tomorrow’s UK retail sales report for July will be a key component for gauging follow-through potential, however, as the BoE appears more sensitive to growth risks than inflation—at least for now”.