GBP Continued Upside On The Cards
Fundamental Forecast for GBP: Neutral
We remain neutral on GBP/USD with a lot of the recent positive news, both economic and political already priced into the pair. Any sell-off, however, would offer an opportunity to go long GBP on a medium- to a long-term basis where we see GBP returning to pre-referendum levels. As it is, a close above 1.36500 would see cable at an 18-month high and back to the June 20, 2016, candle which had a one-day range of 1.3250 – 1.5000.