5 Nov 2013
Flash: GBP/USD was partially propped up by better PMI – OCBC Bank
FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank says that GBP/USD was also partially propped up by a better than expected October Construction PMI ahead of today's services PMI.
Key Quotes
“Coupled with the corrective move in the broad dollar, the GBP/USD managed to regain the 1.5950 handle but if the 55-day MA (1.5924) is punctured going ahead, another leg towards 1.5900 and then 1.5825 cannot be ruled out.”
Key Quotes
“Coupled with the corrective move in the broad dollar, the GBP/USD managed to regain the 1.5950 handle but if the 55-day MA (1.5924) is punctured going ahead, another leg towards 1.5900 and then 1.5825 cannot be ruled out.”