FXWW News/GBP crosses

GBP outlook: Still looking strong on the crosses

  • The GBP has eased lower in early Asian trade after BoE Weale said further QE could happen under certain circumstances;
  • Cable needs to break above strong resistance at 1.5750 in order to generate further bullish momentum;
  • EUR/GBP maintains bearish bias whilst below .8600;
  • GBP/AUD made a bullish break above 1.7350 and buying dips is preferred for medium-term test of 1.8150.

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