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Forex Flash: Mayday for GBP/USD? - Investec

FXstreet.com (Barcelona) - Investec Treasury analysts note that May is finally upon us, which means we can hopefully wave goodbye to those cold days and dark mornings and look forward to some warmer weather.

However, they note that the month of May Hasn’t held such happy memories for GBP/USD in recent years which is likely to keep USD buyers on guard, even whilst we’re currently trading above 1.5500. They write, “In 2010 GBP/USD opened the month at 1.5250 and fell as low as 1.4330 at one point. In 2011 GBP/USD opened up at 1.6700 (remember those days?!) and fell as low as 1.6120. Finally, last year GBP/USD began the month at 1.6230 and bottomed out at 1.5400 by month end! Now we don’t want to take the shine off a new month which should promise us all better weather and longer days but just be aware of GBP/USD tendency to have a mad May!”

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