GBP/USD to extend its gains towards 1.2730/2770 – ING

Market news

30 May 2022

GBP/USD to extend its gains towards 1.2730/2770 – ING

GBP/USD is clinging to the early gains while trading below 1.2650. Economists at ING expect the cable to advance nicely towards 1.2730/2770 in the week ahead.

EUR/GBP to gravitate around 0.85 for a while

“The GBP/USD bounce has certainly been slightly stronger than we thought (we had thought 1.2600/2650 would be the corrective top) and a slightly negative dollar environment at the start of this week could see GBP/USD extend to 1.2730/2770.”

“Long-term, we can still see GBP/USD heading back to the low 1.20s later this summer.”

“EUR/GBP looks set to gravitate around 0.8500 for a while.”

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