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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