GBP/USD appears supported around 1.5140/20 – BBH

By FXStreet FXStreet (Edinburgh) – The research team at BBH sees the pair well suppored in the 1.5140/20 band for the time being.

Key Quotes

“Sterling was the strongest of the major currencies against the dollar in the past week, strengthening by 1.2%”.

“It made the highs for the week just before the weekend near $1.5265. As it often seems to do, sterling stopped at the 50% retracement of this month’s decline”.

“The 20-day moving average is near $1.5300, and sterling has not closed above that average since November 3. Nest week’s economic data, especially the inflation report, will likely reinforce ideas that while the BOE is the next central bank after the Fed to likely hike rates”.

“There will still be a considerable lag. We see initial support near $1.5120-$1.5140, with a break re-targeting $1.50”.
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Source:: FX Street