Flash: GBP/USD is likely to be capped by 1.6260 in the near term – OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank notes that UK 3Q GDP numbers came in largely as expected on Friday and although the GBP/USD managed a brief foray above 1.6240, the pair ultimately eased in line with the majors to end lower on the day below 1.6200.

Key Quotes

“Overall, we retain our neutral stance for the GBP/USD with 1.6260 likely to cap in the near term while 1.6000 may provide an initial floor.”