- Analytics
- News and Tools
- Market News
- GBP/USD set to tackle key support at 1.30 – ING
GBP/USD set to tackle key support at 1.30 – ING
The pound has started the week losing some ground against both the dollar and the euro. While the EUR/GBP pair is set to hover around the 0.83 level, the GBP/USD is set to extend its downtrend towards the 1.30 mark, economists at ING report.
EUR/GBP may not weaken much more below 0.83
“We continue to see the euro as more exposed to any dollar strength given the higher sensitivity to energy prices and greater monetary policy divergence with the US, although EUR and GBP have indeed moved in tandem in recent weeks and EUR/GBP may not weaken much more below the 0.83 mark for now.
“Cable may well extend its current downtrend towards the key 1.30 support that it briefly tested in mid-May.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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 teletrade.org. 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 pr@teletrade.global.
Bank transfers
