FXStreet (Edinburgh) – FX Strategist at OCBC Bank Emmanuel Ng sees the pair well supported in the 1.5200 area so far.
Key Quotes
“The narrower than expected April trade deficit and soft EURGBP underpinned cable on Tuesday although the pair may be tongue tied ahead of the Carney-Osbourne appearances later in the global session”.
“In the interim, we stay heavy on the GBP-USD and the pair (key support at 1.5200) may be unwilling to stage a sustained breakout beyond 1.5400 towards the 200-day MA (1.5499) just yet”.
(Market News Provided by FXstreet)