Chart shows the analysts expectations for the major economic data GDP, CPI, Unemployment rate. Sentiment remain negative as increase in Unemployment and decline in gross product are expected.
Until the end of 2017 short GBP positions remain more logic, as GBP/USD is expected to reach 1,23.
The need for economic reforms and rearrangement of the trade deals are a prerequisite for negativism and we can expect uncertainties.
Additional downside for the pound is the fact there have been no anti Brexit manifestation which can create new sharp downward movements.
Analyst expect more stable UK economy after the beginning of 2018, when we can expect upbeat by GBP/USD.
chart: Bloomberg
Trader Nikolay Georgiev
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