3 Feb 2014
Flash: GBP/USD carving out a top? - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that GBP/USD is faring better than the euro, but it too appears to be carving out a top.
Key Quotes
“Remember it has rallied from near $1.48 six-months ago to almost $1.6670 on January 24. It probably requires a break of the $1.6240-$1.6300 area to get the bulls to capitulate.”
“With suspicions that the UK will have to raise rates sooner than the BOE anticipates, other currencies may offer a more efficient way to express dollar bullish sentiment.”
Key Quotes
“Remember it has rallied from near $1.48 six-months ago to almost $1.6670 on January 24. It probably requires a break of the $1.6240-$1.6300 area to get the bulls to capitulate.”
“With suspicions that the UK will have to raise rates sooner than the BOE anticipates, other currencies may offer a more efficient way to express dollar bullish sentiment.”