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21 Dec 2015
GBP: Sold to its lowest level since April last week – BBH
FXStreet (Delhi) – Research Team at BBH, notes that the Sterling was sold to its lowest level since April last week as the third consecutive decline in average weekly earnings kept the pound under pressure.
Key Quotes
“It had briefly traded at four-week highs at the start of the week, and with the new multi-year lows seen on December 17, a bearish outside down week was recorded. The next level of support is seen near $1.4800. However, the pre-weekend gain snapped a five-day declining streak. The inside day warns of the risk of a short-term pop toward $1.4950-1.5000 where it may be a lower risk sale.”
Key Quotes
“It had briefly traded at four-week highs at the start of the week, and with the new multi-year lows seen on December 17, a bearish outside down week was recorded. The next level of support is seen near $1.4800. However, the pre-weekend gain snapped a five-day declining streak. The inside day warns of the risk of a short-term pop toward $1.4950-1.5000 where it may be a lower risk sale.”