GBP/USD upside limited on 1.44 handle - Scotiabank

Analysts at Scotiabank noted that BoE MPC member Cunliffe warned that markets may be too pessimistic on pricing BoE policy risks.

Key Quotes:

"The broader trend is negative, however, and we rather think GBP/USD gains are liable to stall in the mid/upper 1.44 area."

"BoE rate hikes are unlikely near-term while uncertainty around the outcome of a referendum seems more likely. We are inclined to fade GBP gains."