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Forex Flash: Not too late to sell the GBP – RBS

Even though Cable is currently hitting fresh 2 ½ year lows around 1.5139, down more than -6.5% since new year started, that is less than 2 months, FX Trading Strategist at RBS Greg Gibbs wonders: “Is it too late to sell GBP? I suspect not,” he says, “These are no longer ranging markets, big moves are afoot,” the analyst suggests.

“The USD should be bid, the GBP should remain offered,” he adds, concluding: “Just as many got left behind waiting for the retracements in JPY in Dec/Jan, the same may be true for GBP/USD. It s the more obvious pair to short at this time.”

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