GBP/USD: trade with pundits of currency market
You want to snatch a round sum of money, but remain hesitant on what to bet. We are ready to give you some guts. Let’s look at GBP/USD exchange rate forecasts from some forex market majors.
The UOB (United Overseas Bank Limited) has recently opened a short position against the pound with a target for a move to the late August low of 1,3060.
CITI, being on the same page with the UOB, has also expressed its bearish expectations towards the GBP/USD currency pair movement, taking up a short position from 1,3186 with a target at 1,200 and defining a stop at 1,3340.
Société Générale decided to stay on track with its colleagues and placed a bet on a drop in the pound having opened a long position from 1,3750 with a target at 1,2500. SocGen explained “en detail” a rationale behind its decision. The process of untangling of the UK from the EU will take much time. And this negatively affects the pound.