GBP/USD uptrend remains intact - Westpac

The year-old uptrend in GBP/USD remains intact, with 1.4245 targeted during the week ahead, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“Speculator longs are being rebuilt, but not yet at stretched levels.”

“The receding risks of a hard Brexit plus expectations of tighter BoE monetary policy are supportive backdrops for now. That said, there is potential for the former to resurface.”

“Fundamentals are mixed, with manufacturing activity solid, but services stalling.”