GBP/USD headed back to 1.3350? - Scotiabank
|Analysts at Scotiabank noted that cable is sluggish on the day and the GBP is under-performing on some of the key crosses.
Key Quotes:
"Governor Carney’s comments at the IMF yesterday did not perhaps quite reflect the full bore hawkishness for a Nov rate increase that some market participants had wanted or expected to see.
UK politics may be weighting on sentiment amid speculation about a rift between PM May and Foreign Minister Johnson over Brexit which rather highlight’s the PM’s weak leadership position.
Neutral/bearish—Short-term signals looked peakish yesterday and the subsequent slide in the GBP supports the impression that GBP/USD has put in a short-term top at least. We see support at 1.3455/65. Loss of support in the mid/ upper 1.34s will open up the downside for a further correction in the GBP’s recent gains towards 1.3350."
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