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!!