07.10.202017:02 Forex Analysis & Reviews: Pound sterling prepares to rise

According to the latest six-month forecast from The Goldman Sachs, the pound sterling is very close to its rapid growth, which will allow it to reach the level of 1.33.

In this regard, the financial institution recommends market participants not to wait for a sharp rise in the value of the pound, but to buy it now, especially since the most pressing issue that puts pressure on the sterling is almost at the last stage of resolution - the Brexit trade deal. Most likely, all issues on this score will be settled in early November this year. In this case, the direct ratification of the prescriptions of the contract will take place before the end of December 2020, which means that it will be even earlier than expected.

Thus, all the uncertainty and ambiguity of the pound's position will soon be leveled, which will leave the currency no choice but to build up its positions.

Starting next week, the pound will be able to justifiably strengthen to 87 pence per pound, which is presently at 90.86 pence per pound. Therefore, the so-called "long" position on the sterling against the euro becomes extremely relevant. With a high degree of probability, it will turn out to be very profitable.

Over the next six months, financial analysts also call to prepare for the growth of the sterling. The anticipated rise should reach at least $ 1.33 per pound. The exchange rate today hovers around the level of $ 1.2974 per pound. The long-term outlook is also very positive: over the next twelve months, the rise of the pound sterling will allow it to reach the level of $1.44 per pound.

Nevertheless, experts still did not completely rule out the possibility of disrupting the negotiation process for reasons that may appear abruptly. However, so far there are no visible reasons for this. The telephone conversation between the British Prime Minister and the President of the European Commission, on the contrary, became a good sign on the way to resolving all differences. At least the intensity of the work of both sides is now clearly visible.