GBP Outlook for 28 September 2017


The latest pound bull market began in early September, following indications from the Bank of England that interest rates were set to rise later this year. While we remain bullish in the medium term, the picture is more mixed today with the currency weakening in the last two weeks of September. The pound also looks overbought on a range of technical indicators, thus the medium-term bull market is likely to be near its end.