GBP/USD outlook remains bearish – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, reiterated the negative stance for the GBP/USD.

Key Quotes

“EUR-GBP on Friday continued to sink lower under the weight of EUR negativity although GBP-USD has also been induced lower by the broad dollar and the spillover from the EUR”.

“Expectations towards any BOE hawkishness have all but evaporated with CFTC data showing a significant jump in net leveraged GBP short in the latest week”.

“We stay negative on the pair in the interim”.