GBP headed to below 1.4000? - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Analysts at Westpac explained that two out of three negative signals on GBP direct our portfolio to a short GBP position to be added on any near term strength.

    Key Quotes:

    "We sell GBP/USD at 1.4450, stop 1.4610. GBP likely remains a laggard regardless of the risk appetite backdrop, especially as we move closer to the EU membership referendum 23 June."

    "A return to sub-1.40 looks imminent. Even if the polls break sharply toward "Bremain" hard to see GBP unwinding its Brexit premium until the certainty of the vote is out of the way."
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