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- GBP/USD: Two-way directional risks around 1.40 - TD
GBP/USD: Two-way directional risks around 1.40 - TD
eFXdata reports that TD Research discusses GBP outlook.
"On a qualitative basis, we think GBP has moved higher a bit too quickly, perhaps, relative to its risk backdrop in this recent uplift. Although the UK was an early leader on the vaccine front, other countries have caught up. At the same time, any edge the UK had in vaccine delivery did not translate into a commensurate boost to growth. We see two-way directional risks around 1.40 as summer trading conditions prevail. That would also favor buying into dips and looking to fade EURGBP rallies after marking a new summer high near 0.8670," TD adds.
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