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9 Sep 2013
Flash: GBP/USD may attempt move higher - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank suspects that GBP/USD may attempt to ride the vulnerable dollar higher in the near term with the pair still hovering above the 1.5600 floor.
Key Quotes
“On the CFTC front, net speculative GBP shorts increased in the latest week but note that this data pre-dated the BOE and the US labor market numbers last week, and a near term test towards the 1.5700 handle cannot be discounted.”
“Meanwhile, sub-1.5600, the 200-day MA (1.5494) may be expected to provide a good floor on dips.”
Key Quotes
“On the CFTC front, net speculative GBP shorts increased in the latest week but note that this data pre-dated the BOE and the US labor market numbers last week, and a near term test towards the 1.5700 handle cannot be discounted.”
“Meanwhile, sub-1.5600, the 200-day MA (1.5494) may be expected to provide a good floor on dips.”