GBP/USD sell the strength – Westpac

Strategist at Westpac Richard Franulovich has suggested selling the upticks in Cable in the near term.

Key Quotes

“GBP could easily recover to 1.3650 in coming days, backfilling last week’s gaps but prefer to be a seller on strength near term”.

“A materially weaker GBP will play a crucial role in rebalancing the economy and cushioning likely recession”.

“The BoE is more likely than not to cut rates and kickstart QE probably at their Aug 4 meeting too”.