7 Jul 2014
GBP/USD bullish sentiment - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that sentiment towards GBP is notably bullish.
Key Quotes
"GBP is soft. There was no significant data or developments today."
"We expect Thursday’s BoE meeting to prove a non‐event for the currency with rates and the asset purchase program on hold at 0.5% and £375bn respectively”.
"The CFTC reports that GBP positions are the largest net long position (excluding gold) at $6bn and the upward trend suggests building momentum. We favour near‐term GBP strength."
"GBP/USD short‐term technicals: bullish—technical studies all warn of upside risk and we expect a near‐term break above the recent high of 1.7180."
Key Quotes
"GBP is soft. There was no significant data or developments today."
"We expect Thursday’s BoE meeting to prove a non‐event for the currency with rates and the asset purchase program on hold at 0.5% and £375bn respectively”.
"The CFTC reports that GBP positions are the largest net long position (excluding gold) at $6bn and the upward trend suggests building momentum. We favour near‐term GBP strength."
"GBP/USD short‐term technicals: bullish—technical studies all warn of upside risk and we expect a near‐term break above the recent high of 1.7180."