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12 Aug 2013
Flash: GBP/USD eases lower despite encourage trade data – OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that despite a set of encouraging trade numbers on Friday, the GBP/USD eased slightly lower.
Key Quotes
“This week, the BOE MPC minutes and labor market numbers on Wednesday may potentially induce some volatility in the pair given that the central banks intention to link its forward guidance to the labor market.”
“On the positioning front, net speculative GBP shorts were cut in the latest week in favor of the dollar and if the pair manages to overcome the 200-day MA (1.5532), look for an attempt to drift towards 1.5575 and then 1.5600. “
Key Quotes
“This week, the BOE MPC minutes and labor market numbers on Wednesday may potentially induce some volatility in the pair given that the central banks intention to link its forward guidance to the labor market.”
“On the positioning front, net speculative GBP shorts were cut in the latest week in favor of the dollar and if the pair manages to overcome the 200-day MA (1.5532), look for an attempt to drift towards 1.5575 and then 1.5600. “