7 Jan 2015
GBP/USD down to fresh lows - bearish - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the conditions surrounding GBP/USD with the greenback in control taking sterling to fresh lows.
Key Quotes:
“GBP is soft, having dropped to fresh lows, and making a test towards 1.5100. The near‐term outlook for GBP is negative against the USD, with risk of test down to 1.50."
"Data releases are not the core focus, however the BRC price index fell –.17%y/y. The focus for GBP continues to be the broad USD shift, developments in the Eurozone, oil prices and the BoE response. The central bank is expected to hold rates at 0.5% at Thursday’s meeting; making the release of CPI on January 13th and the BoE minutes (to be released on January 21st) the main domestic focuses."
“GBP/USD short‐term technicals: bearish—will studies all warning of building downside pressure and the risk of a test down to 1.50."
Key Quotes:
“GBP is soft, having dropped to fresh lows, and making a test towards 1.5100. The near‐term outlook for GBP is negative against the USD, with risk of test down to 1.50."
"Data releases are not the core focus, however the BRC price index fell –.17%y/y. The focus for GBP continues to be the broad USD shift, developments in the Eurozone, oil prices and the BoE response. The central bank is expected to hold rates at 0.5% at Thursday’s meeting; making the release of CPI on January 13th and the BoE minutes (to be released on January 21st) the main domestic focuses."
“GBP/USD short‐term technicals: bearish—will studies all warning of building downside pressure and the risk of a test down to 1.50."