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GBP remains vulnerable on ‘Brexit’ – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The sterling outlook remains fragile ahead of the June 23 referendum, suggested Richard Franulovich, Strategist at Westpac.

    Key Quotes

    GBP looks vulnerable to an oversold bounce but until the 23 June referendum definitively takes Brexit risk off the table, GBP will likely struggle to mount a multi-day advance”.

    “Inability to capitalise on notably stronger UK wages and retail sales data last week confirm poor underlying health of the currency”.
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