GBP/USD: sell into strength – Westpac

By FXStreet 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%.”
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Source:: FX Street