Goldman Sachs: Scope for further GBP gains, maintain long GBP/CHF position targeting 1.16 ...Middle East

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Goldman Sachs: Scope for further GBP gains, maintain long GBP/CHF position targeting 1.16
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Goldman Sachs sees potential for further gains in the British Pound, maintaining a long GBP/CHF position with a target of 1.16, driven by both positive global risk sentiment and strong domestic data.Key Points:Pound Recovery: The GBP has quickly rebounded from early August losses, benefiting from improved global risk sentiment, evidenced by the currency's high beta properties. EUR/GBP has dropped below 0.85, and GBP/USD (Cable) has climbed above 1.30.Supportive Risk Sentiment: The positive global risk sentiment, fueled by lower yields, is aiding the GBP. This external factor is crucial for the Pound's continued strength.Strong Domestic Data: UK domestic data, particularly the flash PMIs, sho

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