Flash: GBP/USD to continue to mull the 1.6000 support – OCBC

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank mentions that despite cautionary comments from the BOE’s Weale on the labor market, the GBP/USD stayed supported within a familiar range in the wake of supportive house price data on Thursday.

“Meanwhile, stark EUR under performance saw the EUR-GBP plunging to sub-0.8480 levels."

"Pending further cues from the dollar and the EUR, expect the GBP-USD to continue to mull the 1.6000 support and we would prefer to fade any rallies towards 1.6050 while any failure at 1.6000 may pave the way to 1.5950.”