Flash: GBP/USD below 1.5900 on data miss ahead of Inflation report - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the data disappointment saw the GBP/USD sinking below 1.5900 intra-day and all eyes will be on the BOE’s Inflation Report scheduled for today.

Key Quotes

“Note that Sep/Oct labor market numbers are also on tap, where certain quarters of the market have been looking for signs of increased optimism.”

“We grow increasingly wary of the GBP’s near term prospects and if the foothold at 1.5900 is not reclaimed, expect a test towards 1.5830 before 1.5800.”