23 May 2014
GBP/USD technical mixed- Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes that the pound is weaker into the closing hours.
Key Quotes:
"GBP is weak, down 0.2% from yesterday’s NA close and in line with the broader currency complex move. News flow has been limited. There are only second tier releases scheduled for next week, with a slew of housing data in the first of June the next hurdle for the currency."
"GBP/USD short‐term technicals: mixed—technical studies are providing a mixed outlook, suggesting only limited support for further upside. Accordingly, there is better risk/reward elsewhere. Support lies at the recent low of 1.6732, and resistance comes in at the recent high of 1.6921."
Key Quotes:
"GBP is weak, down 0.2% from yesterday’s NA close and in line with the broader currency complex move. News flow has been limited. There are only second tier releases scheduled for next week, with a slew of housing data in the first of June the next hurdle for the currency."
"GBP/USD short‐term technicals: mixed—technical studies are providing a mixed outlook, suggesting only limited support for further upside. Accordingly, there is better risk/reward elsewhere. Support lies at the recent low of 1.6732, and resistance comes in at the recent high of 1.6921."