FXStreet (Edinburgh) – In the view of Emmanuel Ng, FX Strategist at OCBC Bank, the pair could see its downside accelerated towards the 1.48 area.

Key Quotes

“The pound was trounced by a mixture of dollar strength and disappointing November UK construction PMI”.

Cable’s prospects we think may look increasingly tenuous following the break below 1.5000”.

“If this level is not re-taken with any conviction, expect the pair to succumb to gravity and sink towards 1.4800”.

In the view of Emmanuel Ng, FX Strategist at OCBC Bank, the pair could see its downside accelerated towards the 1.48 area…

(Market News Provided by FXstreet)

By FXOpen