GBP/USD has been caught up in the Greek debacle, acting as a safe haven
trade on positive headlines to running downside plays on uncertainties
such as a Grexit
as the dollar takes up the advantage on interest rate prospects as
markets begin to look beyond the noise of Greece. We now await to see
whether Greece's prime minister, Alexis Tsipras, can
pass the six reforms through the Greek parliament by Wednesday which are
said to include tax hikes, spending cuts, and pension reforms. Tsipras
will have a challenge on his hands with the Syriza-led bloc, who
rebelled this weekend when he sought their endorsement for such reforms.
Meanwhile, IMM Net Speculators’ Positioning
as at 7 July 2015 saw GBP net shorts rose to 22,973 fully reversing the
sharp fall to 12,759 previously. Analysts at Rabobank explained, "We
maintain relatively positive view on the GBP against the EUR and expect
the cable to soften towards the end of the year as the Fed is likely to
raise interest rates ahead of the BoE."
so the recomendation for gbp/usd is bearish.we will waiting for technical sell and ignore buying signal for gbp/usd
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