- Analytics
- News and Tools
- Market News
- GBP/USD seen at risk of a dip to 1.19 on a three-month view – Rabobank
GBP/USD seen at risk of a dip to 1.19 on a three-month view – Rabobank
As a result of this recent weakness, the Pound has lost its crown as the best performing G10 currency in the year to date. Economists at Rabobank analyze GBP outlook.
EUR/GBP to move lower within its range on a three-month view
While we expect US growth to slow to a technical recession in the early part of 2024, the current resilience of the US economy and fears that the Fed may still hike rates further suggests that Cable is likely to stay on the back foot. We see risks of a dip to GBP/USD 1.19 on a three-month view.
While we see scope for USD strength to push Cable lower on a three-month view, we continue to see the risks facing the EUR and GBP as better balanced. EUR/GBP failed to push above the top of its range last week with the 200-DMA in the 0.8708 area remaining intact. We continue to favour selling rallies to this level and see scope for EUR/GBP to move lower within its range on a three-month view given the growth clouds gathering over Germany.
© 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
