The pound continued suffering on unimpressive data and also on concerns regarding Brexit negotiations. What’s next? Here is the view from ING.
Here is their view, courtesy of eFXdata:
ING Research discusses GBP/USD outlook and adopts a neutral bias, expects the pair downside to be limited around 1.3250 next week.
“UK political risks continue to linger in the background – as Brexit talks reach a crucial juncture. Headlines may keep GBP/USD contained, though we expect some consolidation in the 1.33-1.34 area for now,” ING argues.
“The week ahead will see some second-tier data releases, so keep an eye on – consumer confidence (Wednesday), money and credit data (Thursday) and the May manufacturing PMI reading (Friday),” ING adds.
For lots more FX trades from major banks, sign up to eFXplus
By signing up to eFXplus via the link above, you are directly supporting Forex Crunch.
Share
