ScotiaBank is bearish on GBP/USD.

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In its Foreign Exchange Outlook for February 2016, the Scotia Bank made a forecast on GBP. According to the report, the GBP seems to test the 2009 low around 1.3500. The risk lies to the downside given that the analysts consider the erosion in fundamental support and looming Brexit risk. Scotia Bank’s target is 1.35 for GBP/USD in Q2 2016.

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