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12 Dec 2014
GBP/USD technicals are mixed ahead of key week - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the recent developments of GBP/USD while we await for next week’s key data releases from US and UK.
Key Quotes:
"GBP had a quiet Asian and European session, trading in a relatively narrow 40‐point range. Data today was limited, but disappointing with construction output falling –2.2%m/m and up just 0.7%y/y; however there was a large upside revision to the September print."
"GBP/USD short‐term technicals: mixed—The chart pattern suggest a temporary period of rest. Support lies within the recent range of 1.5652 to 1.5757."
Key Quotes:
"GBP had a quiet Asian and European session, trading in a relatively narrow 40‐point range. Data today was limited, but disappointing with construction output falling –2.2%m/m and up just 0.7%y/y; however there was a large upside revision to the September print."
"GBP/USD short‐term technicals: mixed—The chart pattern suggest a temporary period of rest. Support lies within the recent range of 1.5652 to 1.5757."