Sound Fundamentals, Better Technicals

The pound continues to look good against the US dollar, with the medium-term uptrend still in place. The short-term risks are of a dollar bounce against the euro, and we expect the pound to finish the year slightly weaker. However, the technical picture is positive, and barring a break out of the trend channel either way - we see resistance at EGP5.47/US$ and support at EGP5.52/US$ - it should continue its gradual appreciation over the next month or so.

To read the full article, please choose one of the following options: