20 Jan 2016
GBP/USD: sell into strength - Westpac
FXStreet (Guatemala) - Analysts at Westpac explained their outlook for GBP/USD selling strength.
Key Quotes:
"Look to sell strength in GBP to 1.4355 with a stop at 1.4505 as our model and technical signals see sterling lower. GBP probably needs to consolidate its sharp fall for a while but doubtful it amounts to anything more than that before weakness resumes.
A toxic brew of Brexit risk and near zero prospects of a BoE hike this year and possibly until well into 2017 should continue to weigh. The move lower has been stealthy and will have caught many off guard. Positioning not a barrier.
Total return since inception: +15.66%."
Key Quotes:
"Look to sell strength in GBP to 1.4355 with a stop at 1.4505 as our model and technical signals see sterling lower. GBP probably needs to consolidate its sharp fall for a while but doubtful it amounts to anything more than that before weakness resumes.
A toxic brew of Brexit risk and near zero prospects of a BoE hike this year and possibly until well into 2017 should continue to weigh. The move lower has been stealthy and will have caught many off guard. Positioning not a barrier.
Total return since inception: +15.66%."