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2 Apr 2015
Sell the rallies in GBP/USD – OCBC Bank
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, recommended selling GBP/USD on strength.
Key Quotes
“The March UK Markit manufacturing PMI improved as expected to 54.4 from 54.0 the previous month but cited election jitters may remain a structural cap for the pair”.
“As noted previously, expect political static in the run up to the elections to hamper undue GBP positivity with investors expected to fade the rallies in the coming weeks”.
“In the near term, the 1.4800 area may provide a locus for investors pending further cues”.
Key Quotes
“The March UK Markit manufacturing PMI improved as expected to 54.4 from 54.0 the previous month but cited election jitters may remain a structural cap for the pair”.
“As noted previously, expect political static in the run up to the elections to hamper undue GBP positivity with investors expected to fade the rallies in the coming weeks”.
“In the near term, the 1.4800 area may provide a locus for investors pending further cues”.