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We’ve seen GBP/USD sold all week so far, with the FX pair trading at it’s lowest levels since January 11th at 1.3475 currently.

This comes from a bid in the USD, following investors selling off risky assets and moving into safe havens. For example, the NASDAQ had it’s biggest daily loss since March yesterday, down 2.83%.

We think that this is another dip worth buying. Given the strength of the UK economy and potential upcoming interest rate hike, we would consider getting long GBP/USD at current levels.

One thought on “QuickPick – Investor concerns sees USD bid, GBP/USD at lowest level since January”
  1. […] In our QuickPicks note, we went long GBP/USD at the 1.3500 level, with several technical indicators flashing the sudden drop as being oversold. We are looking for a move back to the levels seen at the start of last week before taking some profit, but like holding the position for the long-term. […]

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