Back
14 Apr 2015
GBP/USD might see higher levels before sell-off resumes – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBP/USD might see a minor swing higher towards 1.4720-1.4760 before sellers regain control of the pair.
Key Quotes
“The pair has seen a sharp rise in volatility, which it usually does ahead of elections in the UK. Given the high probability of a hung parliament, the British Pound is likely to be sold on upticks. However, the resilience showed by the pair so far indicates a possibility of a minor correction – 100-150 pips before the pair resumes sell-off.”
“We could see the GBP/USD pair rise to 1.4720-1.4760 in a couple of sessions”
“The pair has managed to sustain above 1.46 and recover back to 1.4662 levels even after the data in the UK showed a softer core reading and RPI miss. As per the headline figure (0.00% year-on-year), the economy narrowly avoiding deflation for the second consecutive month.”
“At the current juncture, the Pound lags mainly due to the election uncertainty rather than policy divergence.”
Key Quotes
“The pair has seen a sharp rise in volatility, which it usually does ahead of elections in the UK. Given the high probability of a hung parliament, the British Pound is likely to be sold on upticks. However, the resilience showed by the pair so far indicates a possibility of a minor correction – 100-150 pips before the pair resumes sell-off.”
“We could see the GBP/USD pair rise to 1.4720-1.4760 in a couple of sessions”
“The pair has managed to sustain above 1.46 and recover back to 1.4662 levels even after the data in the UK showed a softer core reading and RPI miss. As per the headline figure (0.00% year-on-year), the economy narrowly avoiding deflation for the second consecutive month.”
“At the current juncture, the Pound lags mainly due to the election uncertainty rather than policy divergence.”