We remain our bearish bias

Apr 19, 2016

We look to short GBPUSD at 1.4360.

Technical View:
-> Symmetric Triangle resistance.

Fundamental View:
1) Carney speech today will be neutral to dovish pointing the Brexit Risks
2) Brexit dominate the currency view
3) We may have some fluctuation on Wage growth data tomorrow and Retail sales but we remain bearish with strong resistance 1.44

Apr 20, 2016

Note

With Softer wage growth and unemployment posts first rise since 2015, one more reason to sell pound.

Apr 21, 2016

Note

UK Retail Sales fall more than forecast. for second month ( -1.3%MoM). More reason to keep selling.

Apr 21, 2016

Note

More reasons to sell,

Carney raising concerns ( Dovish) :

1) BOE has room to cut interest rates if needed
2) China is big risk
3) Labor market will be affected from a Brexit
4) London's financial could shrink
5) The current account deficit would be more expensive