Further decline in GBP lies ahead – Westpac

FXStreet (Edinburgh) - In the view of strategists at Westpac, the negative outlook for GBP leaves the door open for further pullbacks in the near term.

Key Quotes

“GBP atmospherics remain unappetising, EUR/GBP may well trade to the 0.75-0.76 zone in coming weeks especially now that the May general election is firmly on the trading horizon”.

“March is likely to close out at a new multi-year low close. Momentum stress is evident, however the new low close justifies an ongoing steady decline”.