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Sep 06 - 06:55 PM

GBP/USD: Stepping Up Our GBP Bearish Call; GBP/USD To Fall Towards 1.05-1.10 - Citi

By eFXdata  —  Sep 06 - 03:15 PM

Citi discusses GBP outlook and turns more bearish in the near-term.

"CitiFX Strategy team stepped up their bearish GBP calls this week, citing the deteriorating growth outlook, likely stickier inflation, and the BoE hiking into recession," Citi notes. 

"CitiFX Strategist calls for higher risk premia related to her pre-election promises around fiscal funding, Article 16 and the BoE, and anticipates GBPUSD falling to 1.05-1.10. In the meantime, we keep an eye on the March 2020 low of ~1.1410 as next key support," Citi adds. 

Source:
Citi Research/Market Commentary

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