After reading 3 separate reports this morning from some of the biggest banks in the market, I’m surprised that the cable still has a 1 in front of it. 🙂 Technical, fundamental and market research all seem to be pointing to a much lower rate for this year, with levels below 1.40 now being regularly forecast.
What we also need to remember is that bank analysts are a bit like ratings agencies, they like to be doing and saying something similar to everyone else. You won’t find many of these guys making wild predictions and you also won’t be finding any of them with a trading limit! In other words, read and forget imho.