This is as good as it gets; our bias is to fade further pound strength – BofA | Forexlive

Bank of America Global Research discusses GBO outlook and looks to fade rallies over the coming weeks.

April seasonality propels GBP TWI to strongest since start of year but momentum indicators look overbought – bias to fade,‘ BofA notes.

“Data continues to price out worst case & risks remain for further hikes. But lead indicators are pointing to gloomy outlook.

Meanwhile, little evidence of a return to UK asset markets by foreign investors, a crucial input for constructive GBP outlook,” BofA adds.

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