GBP/USD to stage a stronger test of 1.4000 – OCBC

The GBP/USD pair staged a strong advance, before turning ahead of the 1.4000 mark. Terence Wu, FX Strategist at OCBC Bank, expects the cable to test the 1.4000 level again.

Key quotes

“The push-back of rate cuts by Bank of England’s Saunders and the imminent phased lifting of lockdown measures in the UK provided the positives for the pound.” 

“No change in stance for now, expecting the pair to stage a stronger test of 1.4000. Will reassess once the 1.4000 level is reached.”