BTMU Research discusses GBP/USD outlook and notes that the pound’s upward momentum received more attention overnight after cable briefly broke back above the 1.4000-level before retracing around 1/2 a cent lower.
"Recent price action supports our outlook for a stronger pound in the year ahead. The pound has been the best performing currency since the summer of last year driven by the BoE’s decision to begin raising rates gradually and favourable Brexit developments which have reduced the risk of a more disorderly “No Deal” Brexit outcome...
A smoother Brexit outcome is a key assumption behind our outlook for a stronger pound in 2018," BTMU argues.
BTMU sees GBP/USD on a gradual upward path towards 1.47 by year-end.
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"Recent price action supports our outlook for a stronger pound in the year ahead. The pound has been the best performing currency since the summer of last year driven by the BoE’s decision to begin raising rates gradually and favourable Brexit developments which have reduced the risk of a more disorderly “No Deal” Brexit outcome...
A smoother Brexit outcome is a key assumption behind our outlook for a stronger pound in 2018," BTMU argues.
BTMU sees GBP/USD on a gradual upward path towards 1.47 by year-end.
read more
