Market news
25.11.2021, 08:41

GBP/USD: A substantial drop to the 1.3150-75 zone appears highly likely – Westpac

GBP/USD has extended its weekly slide toward 1.3300. “Finely balanced risks” into MPC’s December meeting may be altered by strong business surveys, but in the interim GBP/USD remains at risk of sliding towards 1.3150-75, in the view of economists at Westpac.

UK Business is doing fine

“This week’s CBI (Confederation of British Industry) Nov Trends survey provided an upside surprise in terms of business activity and persistently strong optimism. Critical for the BoE Dec meeting will be whether consumer confidence also holds up and whether BoE Agents’ Report shows similar output and optimism. Such profiles would normally swing the current ‘finely balanced’ discussions towards a hike. However, covid cases and any renewed restrictions will also be critical.”

“EU/UK tensions are a lingering source of uncertainty for GBP but are less acute as discussions continue.” 

“USD strength is currently dominant and GBP seems likely to struggle to regain levels above 1.3350.”

“A retracement (basis Mar 2020 low) around 1.3150-75 appears to be a likely target on further USD strength.”


© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location