GBP/USD could test 1.5700 today – OCBC Bank

FXStreet (Edinburgh) - According to FX Strategist at OCBC Bank Emmanuel Ng, the pair could re-visit the 1.5700 handle in case of a hawkish BoE today.

Key Quotes

“With expectations running high ahead of the BOE’s “Super Thursday”, the GBP-USD managed to climb despite the disappointing July services/composite PMI data points on Thursday”.

“In the interim, expect the pair to remain relatively static with the 55-day MA (1.5553) still functioning as a key support, any confirmation of background ‘bullish’ expectations towards the BOE later in the global session risks a test towards 1.5700”.