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GBP/USD: Scope for a “stress test” of parity – Credit Suisse

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GBP/USD fell temporarily beneath the key awesome lows of 1985. Economists at Credit Suisse hold their poor outlook and see scope for a “stress test” of parity.

GBP/USD will strive to discover a flooring at 0.9895
“We continue to be bearish for a sustained pass under 1.0463 for a take a look at of the key parity psychological level. With Fibonacci projection help no longer a ways under at 0.9895, we would seem for an try to discover a ground here. Should weak point immediately lengthen though, we would see aid subsequent at 0.9535.”

“Resistance at 1.1409/91 ideally caps, even though solely a shut again above 1.1739 would increase the prospect of a doubtlessly extra vital low.”


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