26 Nov 2013
Flash: GBP bulls eye 1.6260 – BBH
FXstreet.com (London) - Currency strategists at BBH suggest the bulls have not given up on the 1.6260 target on""> GBP/USD
Key Quotes:
“Sterling traded yesterday on both sides of last Friday's range and finished the North American session below Friday's low”.
“…there was no follow through selling in the face of this bearish technical development, and suggests the bulls have not given up on a test of the $1.6260 top that held on two separate tests last month”.
“Meanwhile, Carney is playing up the slack in the economy. He is also pushing that the 7% unemployment level is a threshold, not a trigger (the mantra of forward guidance), and therefore subject to uncertainty”.
Key Quotes:
“Sterling traded yesterday on both sides of last Friday's range and finished the North American session below Friday's low”.
“…there was no follow through selling in the face of this bearish technical development, and suggests the bulls have not given up on a test of the $1.6260 top that held on two separate tests last month”.
“Meanwhile, Carney is playing up the slack in the economy. He is also pushing that the 7% unemployment level is a threshold, not a trigger (the mantra of forward guidance), and therefore subject to uncertainty”.