Connor Campbell of Spreadex, offers the outlook for GBP/USD, and single stocks – Marks & Spencer Group, Morrisons, Walt Disney and Facebook.
Optimism on Indices
Campbell comments how their clients remain on the buying side for the indices, and further adds how the sustainability of this rally has been surprising, with FTSE 100 being the only equity index which has suffered.
GBP/USD: US NFP key for the pair
Campbell says that their clients remain a buyer on GBP/USD at around 1.54 – 1.5445 levels. On the key risk ahead for the pair, he believes that a figure above 200K will see the dollar rally.
Marks & Spencer Group: Break above 520 to be bullish, Cients buying anything above 5 GBP.
Morrisons: Worst of the big 4 supermarkets, 47% drop in pre-tax profits, selling around 170 mark, not a company in robust health
For the outlook on Walt Disney and Facebook’s share prices, watch the video interview.
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