GBP/USD: Room For Some Consolidation; Downside Likely Limited To 1.3250 – ING

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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.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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