USD might underpin cable in the near-term – OCBC

FXStreet (Barcelona) - Analysts at OCBC Bank feel that the fluctuating USD strength might underpin the cable in the near-term, expecting 1.5110 levels to support the pair for now.

Key Quotes

“The GBP-USD was allegedly propped up by EUR-GBP heaviness on Wednesday with the cross still slipping in early trade on Thursday. Meanwhile, the BOE’s Carney also indicted that the fall in crude was unambiguously so positive for the UK economy. Interim USD shakiness may underpin cable in the near term with initial resistance expected into 1.5330 while 1.5110 may support for now. “