4 Nov 2013
Flash: GBP/USD to slip lower within a dominant dollar backdrop – OCBC Bank
FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank notes that UK Oct manufacturing PMI printed a softer than expected 56.0 on Friday, allowing the GBP/USD to slip lower within a dollar dominant backdrop.
Key Quotes
“We remain in favor of fading any up ticks towards 1.6000 in the interim and any downside violation of the 55-day MA (1.5917) would risk a further weakening towards 1.5800.
Key Quotes
“We remain in favor of fading any up ticks towards 1.6000 in the interim and any downside violation of the 55-day MA (1.5917) would risk a further weakening towards 1.5800.