It’s tough to get bearish on the pound at the moment but BNP and Commerzbank were both out with calls to sell the pound today.
BNP said to sell at 1.5680 with a target of 1.5050. They say the market is keen on US longs.
Commerzbank had a similar take calling for shorts at 1.5695 with an initial target at 1.5490 followed by the 55-day moving average and then 1.5054. Obviously, the best entries would have been four hours ago but there is a case for selling bounces because they see the pair eventually falling to 1.4229.
