UPDATE: Sterling's bearish tide presents opportunity — #SaxoStrats
Please see Sterling's bearish tide presents opportunity for GBPUSD — #SaxoStrats.
We have closed our contrarian cable long. This is more trade and risk management. The near-term technical setup looks quite poor, so some correction could be due here.
Also, recent Bank of England comments were dovish. We need the CPI to come back. So some of the fundamentals in our original thesis now look soft.
— Edited by Robert Ryan
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