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A deal by mid-November & GBP/USD ending the year around 1.3440 – Citi

Citi on sterling

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.

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For bank trade ideas, check out eFX Plus

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