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Oct 22 - 12:55 PM

GBP/USD: Bse For A Deal By Mid-November & GBP/USD Ending The Year Around 1.3440 - Citi

By eFXdata  —  Oct 22 - 11:00 AM

Citi sees GBP/USD ending the year around 1.3440.

"CitiFX Strategy’s Adam Pickett note that talks are effectively “in the tunnel”, with the EU acknowledging UK concerns and signalling flexibility," Citi notes. 

On the move up, the 55d MA at 1.3020 and more resistance at 1.3080 gave. Daily closes above here suggest the topside move has legs. Resistance comes in 20 pip increments towards 1.3200, while support now seen around 1.3080 (early October high). – We think a deal will be reached by mid-November, and our scenario weighted year end GBPUSD target is 1.3440," Citi adds. 

Source:
Citi Research/Market Commentary

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