GBP/USD: bearish, sell the up move to 1.4500 – Westpac

Strategists at Westpac have suggested selling GBP/USD on bullish attempts towards 1.4500.

Key Quotes

“The recent bounce from 1.3850 looks like short covering more than anything else, the EU referendum still more than three months away and a strong dovish BoE tilt encouraging markets to ignore constructive datasets and instead lean in favour of pricing modest chances of BoE rate cuts before year's end”.

“GBP a strong sell on strength into 1.45, if seen”.