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Thomson Reuters
Jun 12 - 01:24 PM
GBP/USD: Against Cyclical Drivers, Cable Should Be Trading North Of 1.34 - TD
First appeared on eFXplus on Jun 12 - 11:30 AM

TD Research discusses GBP/USD outlook and adopts a tactical bullish bias, and sees a scope for a move towards 1.3675.

"Alongside a decent round of data this morning, the recent string of events should offer GBP some tailwinds. We note that cable looks cheaps to HFFV, which provides some room to 1.3675.

Indeed, against cyclical drivers it should be trading north of 1.34, which increases the scope for a push higher on favorable Brexit news. The 200dma sits at 1.36 so a sustained break there might aid in a relief rally," TD argues. 

Source:
TD Bank Research/Market Commentary

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