20 Jan 2015
GBP/USD year-end target at 1.4810/40 – Westpac
FXStreet (Edinburgh) - Strategists at Westpac see GBP/USD returning to sub0-1.5000 levels towards year-end.
Key Quotes
“GBP tide may be turning with core CPI holding up, Carney noting that the oil price drop is a net positive for the UK economy and GBP showing a little more backbone of late as more attractive valuation levels begins to kick in around 1.50”.
“Recent bullish ST triggers produced a mild correction in the past 1-2 weeks. MT trend remains firmly down. We target a test of the 2013 lows at 1.4810/40”.
Key Quotes
“GBP tide may be turning with core CPI holding up, Carney noting that the oil price drop is a net positive for the UK economy and GBP showing a little more backbone of late as more attractive valuation levels begins to kick in around 1.50”.
“Recent bullish ST triggers produced a mild correction in the past 1-2 weeks. MT trend remains firmly down. We target a test of the 2013 lows at 1.4810/40”.