GBP/TRY – 29.08.2016

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GBPTRY – 29.08.2016

Last week we gave a target price of 3.90 to GBPTRY. We were absolutely precise on this. Let’s have a look at the current situation.

As you know Turkey has started an operation to Northern Syria. So how would this affect GBPTRY?

GBPTRY is trading around 3.87 at the moment. Although the operation carries on in Northern Syria, we don’t expect any sharp rises at this point. It may jump to 3.90 levels at times. Yet we believe the negative trend will carry on, gradually pushing the price down to 3.78 – 3.80 level.

In case that the Syrian Operation turns into a dilemma, we can see a jump to 3.95 – 3.97 level. However the chances are very slim for that.

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

This cannot be considered an investment advice!