GBP/USD
short-term technicals remain bearish and GBP risk is elevated over the next
hours ahead of BoE ‘Super Thursday’ that includes the policy decision, statement
release, minutes, and Quarterly Inflation Report, according to Eric Theoret, FX
Strategist at Commerzbank.
Key Quotes
“GBP has
been in a well-defined downtrend since June with a sequence of lower highs and
lower lows. We are biased to weakness, and note that medium-term signals are
increasingly bearish with the crossing of the 50 day MA below the 200 day MA”.
“Resistance is strong above 1.5480, and we anticipate a decline toward
1.5250”.
