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6 Mar 2014
Flash: GBP/USD would struggle near 1.6800 – FXStreet
FXStreet (Edinburgh) - According to Analyst Ross Burland at FXStreet, Cable would see it difficult to follow through the 1.6800 handle.
Key Quotes
“However, what might be of more importance for the pound and for traders to watch is the outcome of the Financial Policy Committee (FPC) meeting on the March 19th”.
“Cable had strong demand sub 1.67 and strong bids held the pair and brought about a strong rally back onto the 1.67 handle. That said, if sellers get on top of their game, there is the risk still of a correction lower now that supportive orders from the Vodafone deal have passed”.
“I suspect the 1.6800’s to be tough ground to conquer still”.
Key Quotes
“However, what might be of more importance for the pound and for traders to watch is the outcome of the Financial Policy Committee (FPC) meeting on the March 19th”.
“Cable had strong demand sub 1.67 and strong bids held the pair and brought about a strong rally back onto the 1.67 handle. That said, if sellers get on top of their game, there is the risk still of a correction lower now that supportive orders from the Vodafone deal have passed”.
“I suspect the 1.6800’s to be tough ground to conquer still”.