{"id":91937,"date":"2016-06-24T05:57:59","date_gmt":"2016-06-24T09:57:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=91937"},"modified":"2016-06-24T05:57:59","modified_gmt":"2016-06-24T09:57:59","slug":"investors-to-capitalize-on-the-brexit-battered-pound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/06\/investors-to-capitalize-on-the-brexit-battered-pound\/","title":{"rendered":"Investors to capitalize on the Brexit-battered pound"},"content":{"rendered":"
June 24, 2016<\/div>
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By George Prior<\/strong><\/em><\/div>\n
<\/div>\n
Sensible investors will be seeking to cash in on the weak pound, affirms the Head of FX at one of the world\u2019s largest independent financial advisory organizations.<\/div>\n
<\/div>\n
The observation from James Stanton, deVere Group\u2019s Head of Foreign Exchange, comments as sterling fell to a three decade low in the wake of Britain\u2019s decision to leave the European Union.<\/div>\n
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Mr Stanton explains: \u201cThe Brexit victory has dragged the pound down, as was expected. \u00a0But the scale of the drop has been a shock \u2013 it plummeted to its lowest level since 1985.<\/div>\n
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\u201cHowever, moving forward as the dust settles, it can be expected that GBP\/USD resistance could be found at 1.35 with support levels found above 1.38.\u00a0 Similarly, I believe that GBP\/EUR will soon test levels at 1.20.<\/div>\n
<\/div>\n
\u201cIn the longer term, I think that the Euro will be fundamentally weakened by Brexit, as it could serve as catalyst for full EU break up as other member countries calling for referendums.\u201d<\/div>\n
<\/div>\n
He goes on to say:\u201c This news was always going to create a huge panic sell-off and bearing in mind the wider impact this will have on the Euro, many sensible investors will be seeking to look to cash in on a Brexit-battered pound.<\/div>\n
<\/div>\n
\u201cUK banks are stress-tested to deal with this kind of news, as Mark Carney, the Governor of the Bank of England has said this morning, and will offer a lot of support during these testing times.<\/div>\n
<\/div>\n
\u201cWe can expect the pound to begin to stabilize over the next week, thereby creating better\u00a0selling opportunities for investors and, indeed, the wider public.<\/div>\n
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\u201cI strongly believe GBP\/EUR will recover back nearer to the 1.30 mark and GBP\/USD to 1.45 by the year\u2019s end.\u201d<\/div>\n
<\/div>\n
Mr Stanton concludes: \u201cInvestors will be using the plummeting pound to their long term financial advantage.\u201d<\/div>\n
<\/div>\n
\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $10bn under advisement.<\/em><\/p>\n

www.devere-group.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By George Prior Sensible investors will be seeking to cash in on the weak pound, affirms the Head of FX at one of the world\u2019s largest independent financial advisory organizations. The observation from James Stanton, deVere Group\u2019s Head of Foreign Exchange, comments as sterling fell to a three decade low in the wake of Britain\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-91937","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=91937"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91937\/revisions"}],"predecessor-version":[{"id":91938,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/91937\/revisions\/91938"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=91937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=91937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=91937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}