GBP headed to below 1.4000? - Westpac

Analysts at Westpac explained that two out of three negative signals on GBP direct our portfolio to a short GBP position to be added on any near term strength. 

Key Quotes:

"We sell GBP/USD at 1.4450, stop 1.4610. GBP likely remains a laggard regardless of the risk appetite backdrop, especially as we move closer to the EU membership referendum 23 June."

"A return to sub-1.40 looks imminent. Even if the polls break sharply toward "Bremain" hard to see GBP unwinding its Brexit premium until the certainty of the vote is out of the way."