24 Oct 2013
Flash: More range trading from GBP/USD – OCBC
FXstreet.com (London) - Emmanuel Ng noted the elements impacting Sterling.
Key Quotes:
“BOE MPC minutes released on Wednesday indicated that board members recognized that the jobless rate had fallen faster than previously expected.
“However, the relatively more hawkish tone from the minutes was overshadowed by global investor jitters, with the GBP-USD slipping below 1.6200 and with EUR-GBP still ending higher on the day”.
“Going ahead, expect more range trading behaviour from the cable with 1.6260 still expected to cap for now while any consolidation lower may see support towards 1.6170”.
Key Quotes:
“BOE MPC minutes released on Wednesday indicated that board members recognized that the jobless rate had fallen faster than previously expected.
“However, the relatively more hawkish tone from the minutes was overshadowed by global investor jitters, with the GBP-USD slipping below 1.6200 and with EUR-GBP still ending higher on the day”.
“Going ahead, expect more range trading behaviour from the cable with 1.6260 still expected to cap for now while any consolidation lower may see support towards 1.6170”.