Morgan Stanley: short on GBP/USD
Morgan Stanley sells GBP/USD as a short-term trade recommendation from $1.6745, with a stop at $1.6800 and a target at $1.6500.
"We expect GBP to remain under pressure in the near term: The BoE is expected to remain on hold this week, with the extent of the policy debate within the MPC unlikely to be revealed until the minutes are released later in the month," MS says as a rationale behind this call.
Chart. Daily GBP/USD