Flash: GBP/USD risks to the downside – OCBC

FXstreet.com (London) - FXstreet.com (London) - Emmanuel Ng, currency strategist at OCBC noted the that the impetus for a firmer GBP/USD continues to be watered down.

Key Quotes:

“The impetus for a firmer GBP/USD continues to be watered down from the dollar front and if 1.6300 is given, a move towards 1.6250 cannot be discounted”.

“The data/event calendar for the UK is fairly crowded (not to mention the potential for volatility from the FOMC) next week and the pair may attempt to base build in the interim”.

Dec 16, 2013

USD/JPY, still choppy below 103

USD/JPY extends the same parallel pattern that forms a rectangle in the afternoon of the American trading session.

EUR/CAD losing the bullish bias?

EUR/CAD has moved back to battle again at lower levels ahead of breaking the 1.4560 support earlier in the session. However, the pair has managed to find demand again, taking the pair back into the supporting zone on a spike on the half hour stick.