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20 Nov 2014
A low is close-by for GBP/USD – OCBC
FXStreet (Barcelona) - According to the Analysts at OCBC Bank, the current set-up for GBP/USD indicates that a low is nearby.
Key Quotes
“While the current set-up continues to suggest that a low is close-by, only a move back above 1.5735 would indicate that a sustained recovery is underway. Otherwise, another attempt to break below the now very strong support at 1.5590 cannot be ruled out just yet. Ideally, we would likely to see a move towards 1.5550 before expecting a rebound.”
Key Quotes
“While the current set-up continues to suggest that a low is close-by, only a move back above 1.5735 would indicate that a sustained recovery is underway. Otherwise, another attempt to break below the now very strong support at 1.5590 cannot be ruled out just yet. Ideally, we would likely to see a move towards 1.5550 before expecting a rebound.”