GBP/USD: analysts' forecasts
GBP/USD recovered from the Asian session low of $1.6255 to $1.6340 in the European trade. What do analysts in major banks expect from the British currency in the near term?
Morgan Stanley: We stay short on GBP/USD with a stop at $1.6650 and a target $1.6120. Although UK data remain at robust levels, heightened expectations leave room for disappointment.
Commerzbank: A close below the $1.6259/29 support should be enough to signal losses to the $1.5855 November low.
OCBC Bank: We continue to expect the GBP to remain susceptible to the downside on account of positioning and implicit danger of data disappointments ahead of the BOE on Thursday.