British Pound Forecast Clearly Bullish, but Caution Warranted
Trade Implications – GBPUSD: Our sentiment-based trading strategies continue buying into British Pound strength, and that in itself leaves us mostly bullish. Yet clear warnings of a potential sentiment extreme in the Euro/US Dollar gives us reason for pause. The US Dollar’s next moves might define the trend for the rest of the year, and as such we remain cautiously bullish GBPUSD.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.