Goldman maintains recommendation to stay long GBPCHF

GBP has testified of its high beta properties after its rapid recovery in August alongside other risky assetsExpected downside in EURGBP below 0.85 and upside in GBPUSD above 1.30 to extendMaintains long recommendation in GBPCHFMain drivers of the bullish view is positive global risk sentiment, lower yields, and improving UK domestic data (demonstrated by recent flash PMI data)Sterling to be supported as solid activity data should help the BoE stay in line with their peersIncoming fiscal policy with the budget statement is a potential risk This article was written by Arno V Venter at www.forexlive.com.

Aug 27, 2024 - 11:30
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Goldman maintains recommendation to stay long GBPCHF
  • GBP has testified of its high beta properties after its rapid recovery in August alongside other risky assets
  • Expected downside in EURGBP below 0.85 and upside in GBPUSD above 1.30 to extend
  • Maintains long recommendation in GBPCHF
  • Main drivers of the bullish view is positive global risk sentiment, lower yields, and improving UK domestic data (demonstrated by recent flash PMI data)
  • Sterling to be supported as solid activity data should help the BoE stay in line with their peers
  • Incoming fiscal policy with the budget statement is a potential risk
This article was written by Arno V Venter at www.forexlive.com.
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