GBP: Marginal Upside Into June-8 Elections: Where To Target? – Standard Chartered

Standard Chartered FX Strategy Research expects marginal GBP/USD upside around the June-8 UK general election towards 1.30 through the end of June.

Beyond that, SC maintained its view of GBP/USD downside through the remained of the year.

"Early UK-EU Brexit negotiations suggest the two parties are poles apart on key issues. The risk of a ‘hard’ Brexit is real,"SC argues.

In line with this view, SC targets GBP/USD at 1.26 for Q3-2017 and at 1.24 for Q4-2017.

GBP/USD is trading circa 1.2950 as of writing.

Source: Standard Chartered ResearchOriginal Article