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10 Apr 2015
GBP/USD break of 1.4700 opens up 1.4635 – OCBC
FXStreet (Barcelona) - Emmanuel Ng of OCBC Bank, remains of the view that GBP/USD under-performance might grow as election uncertainty increases, anticipating a break below 1.4700 to target 1.4635.
Key Quotes
“The wider than expected February March trade deficit certainly didn’t do any favors for the pound on Thursday while industrial production numbers are also on tap today.”
“While our short term Heat Map continues to remain less than confident about the greenback in general, GBP underperformance against the buck may grow increasingly pointed as election concerns continue to mount.”
“Note that a violation of 1.4700 opens the way to recent lows around 1.4635.”
Key Quotes
“The wider than expected February March trade deficit certainly didn’t do any favors for the pound on Thursday while industrial production numbers are also on tap today.”
“While our short term Heat Map continues to remain less than confident about the greenback in general, GBP underperformance against the buck may grow increasingly pointed as election concerns continue to mount.”
“Note that a violation of 1.4700 opens the way to recent lows around 1.4635.”