Credit Suisse discusses GBP bias and prefers to stay sidelined around current levels.
"GBP headline volatility persists and ‘awaiting better levels’ feels the optimal strategy. There are intraday opportunities for the quicker amongst us, however digestion of macro news-ﬂow (i.e. plentiful weekend press to satisfy both optimists and pessimists) will often run into ﬂow-driven moves, so discipline pays. For choice, favouring fading bouts of optimism and quick to ﬁlter sensationalism within headlines," CS notes.
"Watching 1.2450/2500 and 0.8830/50 as the GBP sell-zones on the week and neutral at current levels," CS adds.