Merrill Lynch released in the foreign exchange research report, the influence of Article 50 is yet to be felt, so the bank does not agree the move will reduce the deterministic argument that the two-year negotiation period will not give the EU bring a sense of urgency, the difficulty faced by capital inflows will not help the pound course.
Merrill Lynch analysts believe the GBP / USD or bottom of the range and will return to test 1.20 trading range, but is triggered after the first 50 terms of the pound sterling may be able to provide a buying opportunity, investors need to pay close attention to the pound.
The bank analyst added: “We are still bearish on the pound held attitude, of course, we also recognize that the current level positions will be reversed in the positive seasonal factors after the arrival of April, because of the past 12 years in April will be £ usher in a rebound, but the bottom of the GBP/USD technically is not yet clear. ”
(GBP / USD 4-hour chart)