GBP/USD supported around 1.5250 – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng expects pullbacks in the pair to remain contained in the mid-1.5200s so far.

Key Quotes

“GBP-USD re-took the 1.5300 handle despite slightly shady Sep monetary/lending aggregates while Oct CBI sales and Gfk consumer confidence also underperformed prior expectations”.

“In the interim, the pair may remain slightly conflicted (we think lower) as it continues to be subject to the ebb and flow of broader dollar dynamics”.

“An initial cap is seen at the 200- day MA (1.5339) while 1.5250 may cushion on near term dips”.