GBP/USD to suffer a substantial drop to the 1.15/14 zone – Credit Suisse
|GBP/USD is testing below the prior YTD low at 1.1932, which analysts at Credit Suisse look to break to provide a platform for further downside to 1.1500/1.1404 in due course.
Neutral on GBP/USD on a three-six month horizon
“With GBP holding a top in Trade Weighted Terms and with the DXY index edging strongly higher, we think that a close below 1.1932 is imminent and that a move below here will provide a platform for further downside to the bottom of the 6-year range at the low of 2020 at 1.15/14.”
“Note that the Credit Suisse House View is currently neutral on GBP/USD on a three-six month horizon.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.