GBP/USD keeps looking to 1.4345 – Danske Bank

Aila Mihr, Analyst at Danske Bank, noted Cable needs to surpass 1.4345 to allow further gains.

Key Quotes

“Momentum in GBP rally has eased since GBP/USD broke above 1.4245 on Friday. As such, the rally seen last week seems to be mainly technical driven and in the short term, it will require a break of 1.4345 in GBP/USD to maintain momentum in GBP”.

“This week’s data prints out of the UK are likely to support the case for a BoE hike in May as we look for higher wage growth and higher core inflation. However, the market is already pricing in an 80% probability of a bank rate hike in May, and we still think it’s a bit too early to increase expectations”.

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.