Flash: GBP/USD softening in line with a firmer dollar - OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, mentions that the somewhat unfriendly data readings (current account deficit and GDP) saw the GBP/USD softening in line with a firmer broad dollar on Thursday.

Key Quotes

“GBP/USD may attempt to consolidate north of the 1.6000 area as we reiterate that markets may be displaying some fatigue with the stream of UK data releases portending a brighter outlook.”

“Initial resistance is expected towards 1.6100 and then 1.6130 while a breakdown at 1.6000 may pave the way to 1.5960.”