Forex Flash: GBP/USD: Temporary near-term sterling weakness likely - Wells Fargo

FXstreet.com (Córdoba) - The Wells Fargo team remains broadly neutral on the pound versus the U.S dollar over time. "The Bank of England paused its quantitative easing policy this month and activity data has firmed somewhat, though forward looking confidence surveys remain subdued", they comment. "FX positioning and technicals both offer scope for declines, perhaps also hinting at temporary near-term sterling weakness".

At the same time analyst forecast GBPUSD at 1.6000, 1.5900 and 1.5800 in 3, 6 and 12 months respectively.