According to FX Strategist at Scotiabank Eric Theoret, the pair’s outlook looks bearish in the short-term horizon.
Key Quotes
“GBP gains have run into considerable resistance at 1.45”.
“Momentum signals are only modestly bullish and the trend has yet to be confirmed”.
“A sustained break of 1.45 would shift the focus to the early February high above 1.4650 and the 100 day MA at 1.4661. We look to further medium term weakness”.
(Market News Provided by FXstreet)