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18 Mar 2015
GBP/USD: Looking to sell on strength - Westpac
FXStreet (Bali) - Westpac remains bearish GBP/USD, looking to sell on strength, noting that that is unlikely to threaten 1.50 anytime soon.
Key Quotes
"We look to sell GBP/USD on strength (1.4995). Carney took some steam out of EUR/GBP downside when he noted the high TWI value of the currency could hold back prices for some time. The general election - less than two months away - threatens to upend EUR/GBP downside yet further. The BoE minutes this week are likely to show the Bank in no rush to commence policy normalisation. GBP unlikely to threaten 1.50 anytime soon."
Key Quotes
"We look to sell GBP/USD on strength (1.4995). Carney took some steam out of EUR/GBP downside when he noted the high TWI value of the currency could hold back prices for some time. The general election - less than two months away - threatens to upend EUR/GBP downside yet further. The BoE minutes this week are likely to show the Bank in no rush to commence policy normalisation. GBP unlikely to threaten 1.50 anytime soon."