GBP/USD: Below the 1.2340/50 area the downside could open up to the 1.2200 level – ING
|Economists at ING discuss EUR/GBP and GBP/USD outlook.
EUR/GBP bias is probably now for a retest of the 0.8650 area
“The EUR/GBP bias is probably now for a retest of the 0.8650 area, and we'll definitely have to see some softer wage/price data over the coming weeks for the Bank of England to be diverted from what looks like another 25 bps hike on June 22nd.”
“For GBP/USD, the 1.2340/50 area seems decent support below which the downside could open up to the 1.2200 area.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.