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10 Nov 2014

Sterling is one to watch this week - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the conditions surrounding GBP/USD.

Key Quotes:

“The highlight this week will be the release of the BoE’s Inflation Report, which will provide an update on the central bank’s outlook."

"GBP/USD short‐term technicals: bearish— spot is making an attempt to climb off its lows but struggling; technicals wouldn’t turn more bullish unless spot can break above Thursday’s open of 1.5976”.

“Support lies at the recent low of 1.5791."
Nov 10, 2014

EUR/GBP erases gains, back below 0.7850

EUR/GBP rose to test November highs but failed to break and pulled back, erasing gains.
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Nov 10, 2014

GBP/USD down to test key 1.5850; the dance of the rates

The British Pound was unable to maintain levels above 1.5900 against the US dollar and after testing daily highs at 1.5915, GBP / USD found selling interest that launched the pair all the way down to 1.5850.
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