We remain bearish on Sterling

FX_IDC:GBPUSD   British Pound / U.S. Dollar
In the face of a pending interest rate hike and low inflation in the UK economy is certainly more fragile than the US.

Technically Cable is in a short-term balancing act with the main short term auction looking at 1.5130 as a possible test. A break of that level is likely to activate the intermediate term bearish auction back to test the 1.4300 lows that was the last known buying interest.

In the face of this our fund remains bearish on Sterling in the short to medium term and Bullish long-term from 1.4300.
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