GBP/USD keeps looking to 1.4345 – Danske Bank

Pablo Piovano FXStreet

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”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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