GBP/USD: Two-way trades in 1.1060-1.1360 range for now – OCBC

The GBP/USD pair drops to over a one-week low on Friday. In the near-term, two-way trade is likely, in the opinion of economists at OCBC Bank.

Two-way trades

“Bullish momentum on the daily chart shows tentative signs of waning while RSI fell. Risks are skewed to the downside.”

“Support at 1.1130 (21-Day Moving Average), 1.1060 levels. Resistance at 1.1360, 1.1420 (50 DMA).”

“We look for two-way trades in the 1.1060-1.1360 range for now.”

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Strong Treasury yields and rate increases expected by the Federal Reserve are set to underpin the US dollar. Economists at ING expect USD Index (DXY)

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Oct 21, 2022

New cyclical highs for US Treasury bond yields mean new highs for USD/JPY – MUFG

USD/JPY is nearing the 151 level. Economists at MUFG expect the pair to continue grinding higher. A break of 150 remains orderly “The lack of action b

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GBP/USD: Two-way trades in 1.1060-1.1360 range for now – OCBC

Two-way trades

USD Index to return to the late-September 114/115 highs over the coming weeks – ING

New cyclical highs for US Treasury bond yields mean new highs for USD/JPY – MUFG