GBP/USD may resume uptrend to 1.3712-1.3806 – CitiBank

Analysts at Citibank forecast the GBP/USD pair will trade at 1.34 in a 0-3 month period, at 1.37 in 6-12 months and their long-term forecast is 1.40. 

Key Quotes:

“Political drivers remain. There is probably modest GBP upside remaining in the short/medium term but underlying data momentum remains poor in the UK, and the removal of political risk in early 2020 will bring back fundamentals such as macro data and the MPC.”

“GBP/USD’s RSI reached overbought territory but spot is still within up channel. The pair may resume uptrend to 1.3712-1.3806 upon consolidation in short term, with supports at 1.3168.”