GBP/USD Sell the Rallies – Westpac
Strategists at Westpac have recommended selling the pair on occasional bullish attempts.
Key Quotes
“GBP/USD remains high on our sell list. We sell GBP/USD at 1.4450, stop 1.4610”.
“Even
if the polls break toward more clearly toward "Bremain" ahead of the 23
June referendum it’s hard to see GBP forcefully unwinding its Brexit
premium until the certainty of the vote is out of the way”.
“A
vicious squeeze higher likely to be seen if the EU referendum polls and
vote pan out in similar fashion to the Scottish independence vote and
the last UK general election (i.e. strong gains for the status quo), but
that is a trade for another day”.
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