GBP/USD rangebound in the near-term – OCBC

FXStreet (Edinburgh) - GBP/USD could attempt a consolidative pattern in the short-term, according to Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“The pair may range trade in the short term with the BOE’s Haldene indicating that the case for raising interest rates is still some way from being made while also appearing less than confident towards the inflation outlook”.

“Multi-session, expect the pair to hesitate on any bounce towards the 1.5400 neighborhood if hawkish BOE expectations continue to be moderated”.