BTMU FX Strategy Research notes that the outperformance of GBP as of late sands out as well driven in part by favorable technical developments.
In particular, BTMU notes that GBP/USD has finally broke back above resistance at the 1.3000-level before settling slightly lower which has created some scope for catch up strength in the near-term.
“The developments support our anti-consensus outlook for cable to rise further towards the 1.3500-level by year end,” BYMU argues.
Source: BTMU Research
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