Wednesday, January 18, 2017

GBP – Reality May Bite After Euphoria Settles


GBL: FX Flash



GBP – Reality May Bite After Euphoria Settles
by Saktiandi Supaat


FX Research





Over the next few sessions, GBP is likely to be driven by key data including labor report (Wed) and retail sales (Fri) as well as Supreme Court Brexit appeal decision (likely to be announced in the coming days). Though hard Brexit is now in the price, we think reality may start to bite after the market euphoria (could last for next few sessions) settles. We expect GBP to remain highly volatile in coming weeks or months. We maintain our bias to sell GBP on rally (over the next 1 – 3 ...

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