Analysts at Citibank see the GBP/USD pair trading around 1.17 in a 1-3 month period and forecast 1.25 for 6-12M. Key Quotes: “The new PM increase the odd of hard Brexit. Moreover, the UK economic data remains weak. UK’s GDP contracted in 2Q. Additionally, a general election leaves open the risk of a Corbyn led Labour government. Ultimately, near term prospects suggest further weakness for GBP. But fiscal loosening in the event of nodeal could help offset negative economic effects and support GBP.” “The risk of a “No Deal” has not been completely eliminated – a strong (and pure Brexiteer) Conservative victory in the UK elections would bring back the prospect of a “No Deal” as the base case whereas an opposition Labor Party victory, while eliminating hard Brexit as an alternative, would bring Labor’s socialist economic agenda for the UK to the fore. Neither of these are particularly good choices for sterling.” “GBP/USD post a bullish outside week at the trend low if it closes above 1.2310. Some initial resistance is met around 1.2441 with support at 1.1959.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD technical analysis: Greenback at its lowest since late July against CAD FX Street 4 years Analysts at Citibank see the GBP/USD pair trading around 1.17 in a 1-3 month period and forecast 1.25 for 6-12M. Key Quotes: "The new PM increase the odd of hard Brexit. Moreover, the UK economic data remains weak. UK's GDP contracted in 2Q. Additionally, a general election leaves open the risk of a Corbyn led Labour government. Ultimately, near term prospects suggest further weakness for GBP. But fiscal loosening in the event of nodeal could help offset negative economic effects and support GBP." "The risk of a "No Deal" has not been completely eliminated - a strong (and pure… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
