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- GBP/USD: 1.30 may prove to be a quite solid support – ING
GBP/USD: 1.30 may prove to be a quite solid support – ING
Despite the dollar’s good momentum, GBP/USD has managed to stay above the 1.30 level. This is expected to provide a solid floor for the cable, in the view of economists at ING.
Sterling is showing resilience
“Cable has been holding above 1.30, which may prove to be a quite solid support for now.”
“After all, the market’s dovish repricing of BoE rate expectations has been relatively contained, and the OIS pricing continues to embed 5+ rate hikes by the end of this year. This is ultimately offering some support to the pound in the crosses, and EUR/GBP may soon break back below 0.83”.
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