Technical analysis of the Pound (GBPUSD)
The pound often follows the dollar in turning when there is a loss of risk appetite. Just as we forecast a turn in the dollar, we have seen a turn in the pound against the dollar. This should continue.
The bearish narrative will be related to brexit fallout and either slowing growth or a return of inflation as the currency declines..
We have long claimed a top in thr UK real estate market. This is a continued call to leave UK assets behind for a better entry point in a few years.