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Jan 10 - 05:00 PM
GBP/USD: Remains Positive M/Term But S/Term Outlook Is Uncertain - BofA
First appeared on eFXplus on Jan 10 - 11:00 AM

Bank of America Global Research discusses GBP/USD outlook and maintains a medium-term positive outlook, while stays sidelined in the near-term.

"Although we closed our long GBP* and long NOK trades, we remain positive on both. The short-term GBP outlook is uncertain, given the macro backdrop and potential transition cliff-edge in July, but we remain optimistic that the worst will be avoided once again, as both the EU and the UK have strong incentives to compromise for a trade deal," BofA notes. 

"Time is limited, but a broad agreement by the end of the year or after a small extension, with many details to be finalized later, should be feasible in our view," BofA adds. 

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*Recorded in eFXplus Orders

Source:
BofA Global Research

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