FXstreet.com (Barcelona) - Although mildly bearish, MIG Bank analysts expect the GBP/USD to reach higher levels before a downtrend as it is in the final phase of a correction from 1.5269, but with potential to target the 1.5900 region.
“As noted in the past, the large devaluation versus the US Dollar has already taken place in 2008, so strength in the USD Index is not expected to be as aggressively exhibited in cable, hence our bearish view in EURGBP”, wrote analyst Howard Friend.
“As noted in the past, the large devaluation versus the US Dollar has already taken place in 2008, so strength in the USD Index is not expected to be as aggressively exhibited in cable, hence our bearish view in EURGBP”, wrote analyst Howard Friend.
