GBP Outlook for 2 October 2017

Neutral

After maintaining a bullish outlook on the pound since early September (following interest rate hike indications from the Bank of England), we are now downgrading the pound to neutral. The currency has sold off in the last two weeks of September, and as such, has run out of bullish momentum at this point. After looking overbought on a range of technical indicators, the pound is now back to trading within normal conditions. 

Updated