Societe Generale is looking to buy EUR/USD and AUD/USD on further dips.
"If we do get a EUR/USD rally in November, GBP/USD may well follow. A US election outcome that takes EUR/USD back to 1.20, and a deal of sorts between the UK and EU which flushes out more EUR/GBP longs, could trigger a significant spike in GBP/USD. Having a directional view in GBP is hard, but buying cheap GBP/USD upside is more appealing than paying up for expensive downside," SocGen notes.
"We still hoping to get long AUD/USD below 0.71 with a stop just below 0.70. and long EUR/USD below 1.17 with a stop below 1.15," SocGen adds.