Flash: Bullish GBP/USD remains conspicuous counter trend call - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank feels that a better than expected November construction PMI also served to buoy the GBP on Tuesday and continued to keep the EUR/GBP submerged below 0.8300.

Key Quotes

“Pending the November services PMI reading today and the BOE/ECB event risks tomorrow, the 1.6400 ceiling may provide a cause for pause in the interim while initial support may materialize on dips towards 1.6300.”

“At this juncture, our positive GBP/USD view remains a conspicuous counter-trend call, given that we retain a broad preference for the USD elsewhere in FX space.”