GBP/USD sell the rallies – Westpac

Strategists at Westpac have recommended selling the pair on occasional bullish attempts.

Key Quotes

“GBP/USD remains high on our sell list. We sell GBP/USD at 1.4450, stop 1.4610”.

“Even if the polls break toward more clearly toward "Bremain" ahead of the 23 June referendum it’s hard to see GBP forcefully unwinding its Brexit premium until the certainty of the vote is out of the way”.

“A vicious squeeze higher likely to be seen if the EU referendum polls and vote pan out in similar fashion to the Scottish independence vote and the last UK general election (i.e. strong gains for the status quo), but that is a trade for another day”.