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2 Jun 2015
GBP/USD might see a reversal to higher levels – InvestingBetter
FXStreet (Barcelona) - Alpesh Patel of InvestingBetter, views that the ability of GBP/USD to remain above 1.52 levels in spite of below than expected UK data and strong US data yesterday suggests the pair might revisit 1.53 levels.
Key Quotes
“The Cable has a remarkable session yesterday, not so much in terms of volatility or price action but the fact that the UK currency remained afloat above the 1.5200 barrier even though the Manufacturing PMI report missed its mark and the ISM levels from US came in stronger is impressive.”
“This type of price action could suggest a reversal towards higher levels down the road and such a development could send the Cable above the 1.5300 barrier once again.”
Key Quotes
“The Cable has a remarkable session yesterday, not so much in terms of volatility or price action but the fact that the UK currency remained afloat above the 1.5200 barrier even though the Manufacturing PMI report missed its mark and the ISM levels from US came in stronger is impressive.”
“This type of price action could suggest a reversal towards higher levels down the road and such a development could send the Cable above the 1.5300 barrier once again.”