- Analytics
- News and Tools
- Market News
- GBP/USD to drop back toward 1.19 in the coming weeks – Rabobank
GBP/USD to drop back toward 1.19 in the coming weeks – Rabobank
Economists at Rabobank maintain the view that Cable is at risk of further dips below 1.20, despite its current resilience.
Back from the brink?
“Almost irrespective of UK fundamentals, the biggest driver of cable in the coming weeks is still likely to be the USD. Despite the market’s current doubts about the ability of the Fed to hike rates in March, we remain of the view that the USD will remain well supported in the weeks ahead.”
“The break above the 50-Day SMA at 1.2135 is a bullish near-term signal. That said, we see room for the USD to reverse this week’s losses and would look for a move back to GBP/USD 1.19 on a one-month view.”
© 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
