GBP/USD rally could have short legs – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to Strategist at Westpac Richard Franulovich, the current rally in GBP could find sellers around 1.4500.

    Key Quotes

    GBP/USD bounce from 1.3850 looks like short covering more than anything else, the EU referendum still more than three months away and a strong dovish BoE tilt encouraging markets to ignore constructive data sets and instead lean in favour of pricing modest chances of BoE rate cuts before year’s end”.

    “GBP a strong sell on strength into 1.45, if seen”.
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