Flash: GBP maintains positive vibes - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that despite broad based dollar resilience and disappointing Oct UK retail sales numbers, the GBP continued to ride on the positive vibes following Wednesday’s BOE Inflation Report.

Key Quotes

“We however remain somewhat suspect towards excessive upside in the current dollar environment and the pair may remain range bound in the interim.”

“Going ahead, the 1.6150 level may present a near term ceiling while the 1.6000 floor and the 55-day MA (1.5994) may cordon off the pair on the downside.”