GBP/TRY – 22.09.2016

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GBP/TRY – 22.09.2016

On our previous analysis we have predicted a sharp drop for GBPTRY. As predicted, the pair went down 1200 points from 3.9600 to 3.8450.

Today Turkish Central Bank dropped the interest rates by0.25%. Based on that news, what kind of movements shall we expect on GBPTRY?

GBPTRY went down nearly 3% last week and is currently trading around 3.8600. We believe GBPTRY will recover a bit. Our short term target price is 3.9000

Once our target is met, we will update our analysis.

This cannot be considered an investment advice!!