Credit Agricole looks for further declines
Credit Agricole maintains a short GBP/USD position from 1.5450, with a stop at 1.5850, and a target 1.4850 (spot at 1.5350).
The GBP has been under pressure as of late mainly due to falling central bank rate expectations. Increased
China-related growth uncertainty and further weakening commodity price
developments have been driving investors’ UK inflation expectations