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8 Sep 2015
Sell the rallies in GBP/USD – OCBC
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank has suggested selling the pair on occasional rallies.
Key Quotes
“GBP-USD may attempt to base build into the BOE MPC on Thursday although the 200-day MA (1.5354) may continue to impede on the upside”.
“Meanwhile, downside consolidation may well occur towards the 1.5200 neighborhood and we continue to favor a sell-rally posture at this juncture on the back of generalized USD resilience”.
Key Quotes
“GBP-USD may attempt to base build into the BOE MPC on Thursday although the 200-day MA (1.5354) may continue to impede on the upside”.
“Meanwhile, downside consolidation may well occur towards the 1.5200 neighborhood and we continue to favor a sell-rally posture at this juncture on the back of generalized USD resilience”.