GBP/USD: A return to 1.1500 around the turn of the year seems appropriate – ING

FXStreet Insights Team FXStreet

GBP/USD has gone into a consolidation phase at around 1.2250. Economists at ING expect the pair to plummet toward 1.1500 by year-end.

Cable nearing the peak?

“US Nonfarm Payrolls may fail to invert the bearish Dollar trend and GBP/USD may find a bit more support around 1.2300-1.2350.”

“However, Cable is not factoring in the negative implications of rebounding gas prices and weak economic fundamentals. A return to 1.1500 around the turn of the year seems appropriate in our view.”

See – US NFP Preview: Forecasts from 10 major banks, less strong, but not weak

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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