GBP: Long-term bearish view is intact - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that the GBP deserves special status because it’s being driven by politics and positioning.

Key Quotes

“However, our long-term bearish view is intact and as GBP shorts are squeezed out, we like being short with a stop at 1.48, a level that held last week amid savage short-covering. This week, the focus may shift back a bit from politics (though pressure is mounting on PM Cameron) to the economy - where the news isn’t so great at the moment.”