“The fact that everyone is so bearish on British pound tells me there is a possibility of a short squeeze”, says Brenda Kelly, Independent Market Strategist, while discussing the outlook for GBP/USD pair. Kelly is joined by Tip TV’s Nick Batsford and Zak Mir.
Key quotes
GBP/USD – Potential inverse head and shoulder on the daily chart
USD/JPY – is in a big old downtrend
FTSE 100 – Cable weakness could eventually push the index higher to 7K levels