GBP/USD risks a move towards 1.5493 – OCBC

FXStreet (Barcelona) - According to Emmanuel Ng, FX Strategist at OCBC Bank, a sustained break below 1.56 for GBP/USD might lead the pair lower towards 1.5493.

Key Quotes

“Cited diversionary flows from the EUR suppressed the EURGBP while propping the GBP-USD higher on Monday. Domestic event risks this week come in the form of the BOE MPC on Thursday and the budget statement tomorrow. Note however that if generalized dollar strength continues to permeate in the near term, the risk of a sustained breach below 1.5600 could potentially push the pair towards the 55-day MA (1.5493).”

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