FXstreet.com (Barcelona) – Emmanuel Ng, FX Strategist at OCBC Bank believes that markets may look towards an appearance by the BOE’s Carney on Tuesday and the 3Q GDP numbers on Wednesday for further domestic cues.
“GBP/USD may continue to be buffeted by global cross currency currents (from the EUR and USD for example) in the interim.”
“On the CFTC front, net speculative GBP shorts were reduced in the latest week and our current neutral stance for the GBP/USD may be looking increasingly supported going ahead.”
“Expect initial resistance at 1.6270 while 1.6150 is expected to offer first support.”
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