GBP: Looks like it’s found a base - Westpac

Research Team at Westpac, suggests that its hard to see GBP mounting a sustainable rally at the current juncture.

Key Quotes

“Against the backdrop of a likely BoE policy easing that may include conventional rate cuts, a restart of QE and a clear preparedness to ease yet more if needed. GBP/USD unlikely trades much above 1.35 if at all.

Technical: Short term, GBP looks like it’s found a base but trend signals still point to further downside.”