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Citi bearish cable, targets as low as 1.05 (key support 1.1410 for now)

Started by forex4you, Sep 07, 2022, 04:57 am

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Citi bearish cable, targets as low as 1.05 (key support 1.1410 for now)

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</p><p>Citi discusses GBP outlook and turns more bearish in the near-term.</p><ul><li> "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.</li><li> "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.</li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Citi bearish cable, targets as low as 1.05 (key support 1.1410 for now)

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