GBP/USD: Needs A Fresh Catalyst To Stay Above 1.30 – Barclays

Barclays Capital FX Strategy Research notes that GBP/USD has been pushed above the psychological 1.30 level on higher-than-expected retail sales last week combined with USD weakness.

“Although GBP remains on an appreciating trend, with market positioning and valuation providing a boost, further near-term upside will likely require a catalyst, in our view. Baring further unexpected negative political headlines from the US, we do not think this week will provide such catalyst and expect the Cable to range-trade,” Barclays argues. 

Data wise, Barclays notes the calendar is quiet this week, and expects Q1 17 GDP (Thursday) to be confirmed at 0.3% q/q. 

GBP/USD is trading circa 1.3022 as of writing. 

Source: Barclays Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews

from Online Forex Trading Resource
View thesource article here


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s