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GBP/USD: sell into strength - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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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