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Oct 23 - 10:55 AM

GBP: Cable Still A Sell Above 1.30; EUR/GBP Likely Heading Towards 0.92 N-Term - Credit Suisse

By eFXdata  —  Oct 23 - 09:30 AM

Credit Suisse likes selling GBP against the USD and the EUR in the near-term.

"We still see no reason to change our view that EURGBP should gravitate to 0.9200 while Brexit talks proceed, with GBPUSD still a sell above 1.3000. Given the government’s general approach to emotive talks, the odds of talks being concluded in a manner that rules out more apprehension and misunderstandings before a conclusion seem slim still," CS notes. 

"We note that the EU parliament, which would need to vote through any agreed deal, does not next month till 23-26 Nov, suggesting that the level of urgency to reach a conclusion will stay relatively low for some weeks to come," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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