30 Apr 2015
DXY looking weak near-term, GBP/USD bullish – Kshitij
FXStreet (Barcelona) - Presenting the outlook for DXY and GBP/USD, the Kshitij Consultancy Team, anticipates the Dollar Index to move lower towards 94.30-94.00 and Cable to see gains towards 1.5500-1.5552 in the near-term.
Key Quotes
“US GDP came out at a lower 0.23% than the expected 1% in the first quarter of the year. That said the Dollar Index has fallen sharply to make an intra-day low of 94.68 yesterday. The fall may now extend towards 94.30-94.00 in the near term before bouncing upward.”
“Pound (1.5426) has moved up sharply in line with our expectation. Near term is strongly bullish. May test levels of 1.5500-1.5552 in the near term.”
Key Quotes
“US GDP came out at a lower 0.23% than the expected 1% in the first quarter of the year. That said the Dollar Index has fallen sharply to make an intra-day low of 94.68 yesterday. The fall may now extend towards 94.30-94.00 in the near term before bouncing upward.”
“Pound (1.5426) has moved up sharply in line with our expectation. Near term is strongly bullish. May test levels of 1.5500-1.5552 in the near term.”