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”.
(Market News Provided by FXstreet)