- Analytics
- News and Tools
- Market News
- GBP/USD will struggle to sustain any gains over 1.30 – ING
GBP/USD will struggle to sustain any gains over 1.30 – ING
The strong Dollar has kept GBP/USD pinned down. Economists at ING analyze Sterling’s outlook.
GBP/USD to trade in the 1.20-1.25 range for the next three to six months
We forecast that all of the BoE’s key inflation metrics will be heading in the right direction through 2024, allowing the BoE to deliver 100 bps of easing next year starting in August. This probably means that GBP/USD will struggle to sustain any gains over 1.30.
EUR/GBP realised volatility is not too far off the lows seen over the last two decades. This means that the broad EUR/USD trend will largely define that of GBP/USD – unless we get some enormous independent move in Sterling. That probably means GBP/USD trading in the 1.20-1.25 range for the next three to six months (with perhaps some downside risks), before better Eurozone growth in the second half of 2024 and lower US rates allow EUR/USD and GBP/USD to make their moves higher.
© 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
